BlackRock Warns Korea’s Power Giant on Overseas Coal Plant Push
(Bloomberg) — BlackRock Inc. has challenged Korea Electric Power Corp. over plans to invest in new coal-fired power plants in Vietnam and Indonesia. The world’s top asset manager raised concerns over “several controversial coal projects” with a South Korean utility, including in meetings in the first quarter, it said in a report last month. BlackRock “contacted […]
Blended coal for Perak power plant
Tenaga Nasional Bhd (TNB) is introducing blended coal at its coal-fired power plant in Lumut, Perak, as part of a continuous effort to ensure a sustainable coal supply for electricity generation. The introduction of blended coal for the Sultan Azlan Shah Power Station, which produces 20% of Peninsular Malaysia’s energy generation, would help secure coal […]
Booming Southeast Asia’s dirty secret: Coal
SINGAPORE — Southeast Asia has one of the fastest-growing economies in the world, but intertwined with that rise is a rare distinction: a shift toward the use of more coal. The Association of Southeast Asian Nations is “the only region in the world where coal is expected to increase its share” of the energy mix, […]
Bukit Asam looks to develop solar panels, downstream industries
Publicly listed coal miner PT Bukit Asam is looking to expand its business into the renewable energy sector after announcing plans to install solar panel systems at existing unproductive mining sites.
Bukit Asam profits dip 44 percent in September amid weak coal demand
State-owned coal miner PT Bukit Asam booked a decline in net profits for the third consecutive quarter as weak coal demand, impacted by the COVID-19 health crisis, continued to take its toll on the company’s finances.
Bukit Asam to cut capex amid falling demand from PLN, India
State-owned coal miner PT Bukit Asam (PTBA) plans to cut its capital expenditure (capex) this year amid falling power demand in India and at home as the company books a sharp profit slump in the first quarter. The miner initially budgeted Rp 4 trillion (US$264.9 million) of capex for 2020, mostly to develop a giant coal-fired […]
Bukit Asam’s coal-gasification project will be loss-maker: Study
A multibillion-dollar and flagship coal gasification project in South Sumatra might do more harm than good for Indonesia’s economy, the latest Institute for Energy Economics and Financial Analysis (IEEFA) report has found.
Bumi Resources expects to sell 42 million tons of coal in first half
PT Bumi Resources (BUMI), Indonesia’s largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million tons, or 47 percent of its full-year target of 88-90 million tons. BUMI corporate secretary Dileep Srivastava said on Tuesday that the firm had sold 20 million tons of coal in […]
Business risk and COVID-19 are pushing Asian financiers away from coal
The use of coal as an energy source is steadily declining in the U.S. and Europe, but coal mining and the construction of coal-fired power plants continues across South and Southeast Asia. The technology and funding comes primarily from three countries — South Korea, Japan, and China — and is destined to nations including Indonesia, Vietnam, […]
Calls to cool down on coal
While delegates from 200 countries come together to ramp up climate action and investors worldwide call for an end to banking on coal as part of the energy mix, the Trump administration followed through with its threat to host a fossil-fuel promotional side event at the United Nations Climate Summit (COP24), currently held in the […]