The future of a planned 700 MW Ugljevik III coal power plant in Bosnia and Herzegovina is in doubt after one of the project companies, Sunningwell International Limited, confirmed that Chinese bank loans will not be available for the project.
Tag: Coal
Capital Monitor: China is stopping financing coal power overseas – so what?
If the announcement only applies to projects announced from September 2021 onwards, it will have “very few climate-saving impacts because negotiation and implementation of any agreement for coal takes years” and the average coal-fired power plant operates for at least 40 years, says Wang Wawa, programme director at Just Finance International. Read the article in… Continue reading Capital Monitor: China is stopping financing coal power overseas – so what?
The Diplomat: Despite Xi’s Pledge, China Is Financing Coal Power Plants in Bosnia and Herzegovina
Despite a pledge to stop financing coal power abroad, overseas coal power plants financed by Chinese banks and state-owned enterprises are still moving forward – including in Bosnia and Herzegovina. Read the full story by Wawa Wang and Nils Resare in the Diplomat here.
Deceptive feasibility studies for new coal power plants in Bosnia and Herzegovina
The contaminated ash from the Tuzla coal power plant is mixed with water and pumped out into a dessert-like field a few kilometres outside the city centre. (2021) Well-implemented environmental impact assessments and feasibility studies are crucial for governments to make fully informed decisions. Underestimating environmental impacts or miscalculating costs will not only undermine accountability,… Continue reading Deceptive feasibility studies for new coal power plants in Bosnia and Herzegovina
Chinese coal power still in Bosnian pipeline
Mile Krstić is expecting a new neighbour: just a few hundred metres from his house, the ground has been prepared for the new coal-fired power station, Ugljevik III. His house is already surrounded by the city’s substantial coal industry: Ugljevik I, one of Europe’s most polluting coal fired station, are in front of it, and… Continue reading Chinese coal power still in Bosnian pipeline
CSOs welcome political commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow suit
Glasgow, 4 November 2021 – Today at COP26, more than 20 countries and institutions, including the United States, Canada, Mali and Costa Rica, launched a joint statement committing to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance. After a wave of commitments… Continue reading CSOs welcome political commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow suit
Revised OECD Agreement on Export Credit Restrictions for Coal Plants “Full of Loopholes”
Paris, 4 November 2021: Just Finance International today branded a revised OECD agreement intended to restrict export credit to support international coal-fired power plants as “full of loopholes”, as it allows continued pollution of the global environment. In practice, the new agreement – a revision of a 2015 agreement and effective as of 1 November… Continue reading Revised OECD Agreement on Export Credit Restrictions for Coal Plants “Full of Loopholes”
Response: G20 ends public financing for international coal-fired power projects, we ask China to walk away from Western Balkan coal projects immediately.
G20 nations including China have agreed to ending public financing for international coal-fired power projects this year, following on from similar commitments by the G7 and the OECD. China, the world’s top financier for the construction of international coal-fired power projects, still currently has over 1.7 GW of planned coal-fired power plants and the 350 MW Kostolac B3 coal-fired power project under construction in the Western Balkan countries in Southeast Europe… Continue Reading
South China Morning Post: 5 things you need to know about China’s power crisis
“There is a transparency problem for China’s overseas coal deals,” said Wawa Wang, programme director at Just Finance. “It makes the monitoring of critical information specific to project appraisal, project status and financial disclosure difficult.”
Bloomberg: China Could Build New Coal Plants Overseas Even After Xi Pledge
“There is a transparency problem for China’s overseas coal deals,” said Wawa Wang, program director at Just Finance. “It makes the monitoring of critical information specific to project appraisal, project status and financial disclosure difficult.”