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Coal to play major role in emerging economies
- 12 years ago (2012-06-30)
- David Flin
A report from the research and consulting firm Frost & Sullivan says that coal will play a major role in meeting the energy needs of emerging countries over the next ten years. The report, “Global Prospects for Coal-Fired Power Generation”, says that India and China have abundant reserves, and countries such as the USA, Russia, and Australia also have huge coal reserves.
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Harald Thaler, Industry Director at Frost & Sullivan, said: “China, India and the rest of Asia are the key focus areas for coal-fired investment in the coming decade. Strong projected electricity demand growth and low production costs make the region attractive for both domestic and global participants. The analysis finds that Indonesia and Vietnam will emerge as major countries fuelling demand for coal-fired electricity generation. Japan and South Korea will offer limited prospects, while Australia will experience strong growth. However, reliance on gas and oil in the Middle East, on hydroelectric power in South America, and poor infrastructure and political stability in Africa will limit the prospect for coal-fired power generation in these regions.”
Thaler said that financing issues for large coal-fired plants are likely to recede as electricity demand across emerging regions recovers. In Europe, order levels for steam plants are expected to pick up over the next few years as capacity needs to be replaced in some countries that are affected by closures mandated by the large combustion plants directive. He said: “Order levels will increase again as the technical and commercial viability of carbon capture and storage (CCS) is proved.”