Page 10 - AsiaElec Week 45

AsiaElec COAL AsiaElec

Siemens the next to exit coal

GLOBAL SIEMENS’ turbine manufacturing business will growth-oriented portfolio.”
no longer make any bids to build new coal-fired The decision was more or less expected, given
power stations, although it will continue with its that former Siemens AG CEO Joe Kaeser said in
existing coal power business and will also not July that the company should develop plans to
stop building gas-fired turbines. exit coal-generated electricity
Siemens Energy, the power plant and turbine “The fight against climate change requires
business that was recently spun off from Siemens a decisive change in power generation, as it is
AG, is now just the latest industrial giant to move responsible for about 40 percent of global ener-
away from coal in an effort to improve its envi- gy-related CO2 emissions,” Kaeser told an online
ronmental record. general meeting on spinning out the power busi-
Siemens Energy, which owns 67% of wind ness in July.
turbine maker Siemens Gamesa, makes 30% of “That is why I have asked the Managing
its sales by catering to fossil-fuel power stations, Board of Siemens Energy AG to quickly present
mostly gas, Reuters reported. a stakeholder-friendly plan to phase out coal-
Indeed, coal-fired account for a low sin- based power generation.”
gle-digit percentage of the company’s sales, or Siemens Energy said it would instead focus
roughly GBP820mn ($1.083bn) based on 2020 on wind farms, power transmission technol-
figures. It has said the business is profitable. ogy and gas-fired power generation for future
Siemens Energy will still meet existing com- growth.
mitments, including placed bids, and honour It will transition to a more sustainable,
service contracts for combined heat and power growth-oriented portfolio, new CEO Christian
(CHP) stations. Bruch said.
The company said it would now review the Rival Toshiba has also said that it will reduce
impact of its decision on employees and sites. its emissions and move away from fossil fuels.
“Accompanying its customers on the path of Meanwhile, General Electric (GE) said in
energy transformation and providing the nec- September that it would stop building new coal-
essary technologies and solutions – that is the fired power stations and supplying facilities. It
mission of the company,” it said. said it would shift its focus from the building of
“With this step, Siemens Energy continues its new power stations to maintenance and other
transformation towards a more sustainable and services.™

NEWS IN BRIEF

POLICY action, as President-elect Joe Biden outline the China’s Belt and Road going
US re-engagement with the Paris Agreement
NSW plans 12GW of and much more on the energy transition nowhere fast in Pakistan
front. Perhaps more important than the
renewables, 2GW of numbers around the plan is the way in which Political unrest, foreign debt limits and the
Covid-19 pandemic have all conspired to
it integrates known resources with proven
pumped hydro by 2030 technologies. slow Chinese investment in Pakistan as
Beijing holds off on projects under the $62
“This is the biggest, most substantial
New South Wales Energy and Environment commitment by any state government to a China-Pakistan Economic Corridor (CPEC)
Minister Matt Kean has launched another clean energy transition,” said WWF-Australia including a $6.8bn railway renovation plan.
linchpin in the state’s plan to systematically Energy Transition Manager Nicky Ison, Prime Minister Imran Khan, now under
transition from coal-fired power generation adding that the plan represents “a major opposition fire for a range of complaints
to renewables-based electricity in a way that strategic pivot towards making Australia a including allegations his government is
provides economic benefits to the state’s renewable superpower.” military controlled, is also being criticised for
regions and consumers. The state government plan incorporates squandering a golden economic opportunity
The “NSW Electricity Infrastructure earlier state announcements of accelerated for not prioritising and expediting big-ticket
Roadmap” charts a path to the construction renewable energy zones, a pumped hydro Chinese infrastructure investments.
of 12 GW of new large-scale solar and wind roadmap, and the co-location of industry Soon after Khan assumed office in 2018,
capacity, attracting AUD 32bn ($23.3bn) with lowest-cost electricity generated by the premier put on hold several CPEC
in private investment, creating 6,300 renewables. projects on the suspicion of corruption under
construction jobs and 2,800 ongoing jobs in It is a whole-of system approach built the previous government and sought to
2030. It also calls for a reduction in the annual around five foundational pillars. renegotiate and realign the scheme, part of
electricity bills of businesses. China’s Belt and Road Initiative (BRI) which
Kean’s announcement of the newly seeks to pave a trade route connecting China
formulated roadmap has also coincided with through Pakistan to the Indian Ocean.
a global shift in support for climate change BELT AND ROAD Two years later, his Cabinet members are

P10 www. NEWSBASE .com Week 45 11•November•2020