Page 7 - AsiaElec Week 26 2021
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AsiaElec COAL AsiaElec
of new green capacity undercutting coal or gas. from coal to LNG as a transition fuel.
IRENA said that falling renewables costs Even though the Chinese government,
meant that up to 800 GW of coal capacity could among others in Asia, is promoting cleaner coal,
be replaced by renewables, saving $32bn per year using more efficient generating technology,
and reducing CO2 emission by up to 3bn tonnes emissions scrubbers and carbon capture and
per year (tpy). storage (CCUS), the report dismissed clean coal
IRENA director-general Francesco La Cam- on cost grounds.
era said: “Today, renewables are the cheapest Such clean coal is a risky bet, as these coal
source of power.” plants are highly unlikely to generate a return
above their cost of capital over the project
Post-COVID lifetime.
“Coal no longer makes sense financially or envi- A mix of carbon pricing, lower cost renew-
ronmentally. Governments should now create ables continuing to displace fossil fuels, and
a level playing field which allows renewables to tight carbon budgets in the wake of net-zero
grow at least cost, using post-COVID stimulus announcements leave limited potential for coal
spending as an opportunity to lay the founda- to make a profit.
tions for a sustainable energy system,” said von Coal is a risky and expensive proposition for
der Neyen. government and investors, and the cost of car-
The report also called on governments, espe- bon is pricing coal out of the market.
cially in Asia, to avoid the temptation to switch
Elixir Energy encourages investors with
report on Mongolia coal discovery outcomes
MONGOLIA ELIXIR Energy has announced exceptionally to a new sub-basin in the PSC and has recently
thick total coals in the West Yangir-1 well in begun drilling a new exploration well known as
Southern Mongolia, which could spark another Kingston-1S, it added.
strong share price increase, Finfeed has reported. The well has, it is said, already encountered
The West Yangir-1 core-hole, located approx- coals, which is an encouraging development,
imately 8 kilometres west of the previous Yangir especially given that management will be drilling
wells, has intersected 48 metres of coal (as meas- numerous wells in the next months
ured from core by well-site geologists) to a depth Managing director Neil Young commented
of 350 metres. on the performance of Yangir-1 and the medium
Mechanical challenges and down-hole cir- to long-term exploration program, saying, “The
cumstances have reportedly made drilling diffi- very thick total coals measured in the West Yan-
cult, and the well’s overall depth has been capped gir-1 well have been highly encouraging, as has
at 350 metres. the discovery of coals in the drilling to date in the
The Manlai-1S exploratory well, located in new Kingston location.”
the far northwestern corner of the PSC, suffered Elixir’s 2021 2D seismic acquisition pro-
mechanical problems while drilling and could gramme has officially completed its initial
not reach its intended depth, the trade title 220-km phase. An expansion of the seismic pro-
reported. gramme is being planned.
The Top Diamond LLC rig has now relocated
Week 26 30•June•2021 www. NEWSBASE .com P7
