TOKYO, April 22 (Reuters) – A consortium of banks led by Japan Bank for International Cooperation (JBIC) approved a nearly $2-billion loan for a coal-fired power plant in Vietnam that critics said breached an international agreement on financing the dirtiest fossil fuel. The state-owned JBIC signed the loan agreement for $1.99 billion with private banks […]

[JAKARTA] An international team of environmental and financial experts claim in a report that contrary to declarations it made in 2013, the World Bank (WB) has been indirectly funding coal mining projects in Asia. According to the report, published this month (11 April),  the WB’s private-sector arm – the International Financial Corporation (IFC) – has […]

Opponents of coal-fired power stations have done a great disservice to the economy of Sabah, said Sabah Deputy Chief Minister Wilfred Madius Tangau. The state industrial development minister said those who opposed the proposed coal-fired power station in Lahad Datu years ago were now coming to see him to propose a similar power generation project […]

Singapore’s OCBC Bank is the first banking giant in Southeast Asia to rule out financing new coal-fired power plants. In an interview with Bloomberg on Wednesday, the bank’s chief executive Samuel Tsien said the company would no longer fund new coal-fired power plants in any country. “We hope that by doing this, we are encouraging […]

SINGAPORE • Oversea-Chinese Banking Corp Ltd (OCBC), South-East Asia’s second-largest lender, said two Vietnamese coal-fired power plants will be the last it finances as it increases funding for renewable projects. “We won’t do any new coal-fired power generation plants in any countries, except for the power projects that we are already in, or we have […]

MANILA, Philippines — San Miguel Corp. (SMC) intends to continue developing clean coal power plants, as well as pursue renewable energy projects and battery technology developments with room still to grow in its power portfolio. As of end-2018, SMC Global Power Holdings Inc. has an installed capacity of approximately 19 percent of the national grid, […]

The government set on Thursday the coal reference price at US$88.85 per ton in April, a 0.84 percent decrease from the $90.57 per ton set in the previous month. The change marks a further decrease of the coal price, which stood at $107.83 per ton in August last year. Energy and Mineral Resources Ministry spokesperson […]

DAVAO CITY — Mindanao’s shift in recent years to more power generated by coal-fired plants is for now saving the southern Philippines from energy problems caused by the El Niño dry spell. “Mindanao’s current energy mix and supply status may be able to spare Mindanao from the effects of long dry spell to our power […]

The Indonesian government is taking a firmer approach to control thermal coal production this year, to ensure the domestic market obligation, or DMO, requirement is met, Indonesian Coal Mining Association’s executive director Hendra Sinadia told S&P Global Platts. “This is the first time the government wants to closely control the production output, they have the […]

MANILA, Philippines — The Mindanao coal-fired power plant owned by AC Energy Inc. has been named as among the country’s energy projects of national significance (EPNS). The Energy Investment Coordinating Council (EICC), led by the Department of Energy (DOE), has endorsed the 4×138-megawatt (MW) coal-fired power plant in Lanao del Norte in Mindanao owned by […]