Coal reserve capacity construction energy storage

Will China set up a coal capacity Reserve System by 2027?

China vowed to set up a coal capacity reserve system by 2027, aiming to secure energy security through more flexible coal supplies, according to plans the country released Friday.

How much coal will China have by 2030?

By 2030, the country will strive to attain a yearly coal capacity reserve of 300 million tonnes that are dispatchable and improve the capacity and flexibility of coal supplies, according to a document jointly released by the National Development and Reform Commission and the National Energy Administration (NEA).

How many new coal-fired power plants will China build in 2024?

A February report from Europe’s Centre for Research on Energy and Clean Air (CREA), and the U.S.-based Global Energy Monitor (GEM), said China began building 94.5 GW of new coal-fired generation capacity in 2024, the most in any year since 2015. The report said work resumed on another 3.3 GW of generation capacity projects that had been suspended.

Why should China invest in coal-fired power?

The system can also better leverage coal-fired power's underpinning role in power generation, promote the high-quality development of new energy, and facilitate the green and low-carbon transformation of the energy industry, the official added. Coal has long been China's mainstay fuel.

How will China shape the future of coal power?

While China continues to add new capacity, the global coal fleet outside China shrank by 9.2 GW in 2024, reinforcing China’s dominant role in shaping the future of coal power. China now accounts for 93% of global construction starts for coal power in 2024. Long-term coal power contracts are reinforcing coal’s dominance at the expense of renewables.

Are China's coal projects still a good investment in 2024?

The Centre for Research on Energy and Clean Air (CREA) and Global Energy Monitor (GEM) have released their H2 2024 biannual review of China’s coal projects, which finds that coal is still holding strong despite skyrocketing clean energy additions in 2024.