"China May Waste $490 Billion on Unneeded Coal Plants: Study"

"China risks wasting $490 billion by building more coal power plants than it needs as slower power demand growth and less polluting energy sources squeeze coal generation out of the power mix, according to a study from an environmental think tank.

As of July, the country had 895 gigawatts of operating coal capacity being utilized less than half the time, with another 205 gigawatts under construction, London-based Carbon Tracker Initiative said in the report.

The study echoed findings of the International Energy Agency in September that showed China may be investing too much in coal power and suggests generators haven’t responded to the government’s ambition to scale back on the pollution causing global warming."

Chisaki Watanabe reports for Bloomberg November 27, 2016.

Source: Bloomberg, 11/29/2016