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Global coal power capacity inches up in 2024, data shows

The world's coal-fired power fleet inched up by 18.8 GW in 2024, its lowest rise in two decades, but new additions in China and India continued to offset closures elsewhere, data from US think tank Global Energy Monitor showed on Thursday.

Despite a record surge in renewables, 44 GW of new coal power was commissioned by 12 countries last year, higher than the 25.2 GW of retirements, GEM's annual coal plant tracker report said.

At 2 143 GW, global coal generation capacity is now 13% higher than it was when the Paris climate agreement was signed nearly a decade ago.

Though it has vowed to "strictly control" new coal capacity, China - the world's biggest energy consumer - put an additional 30.5 GW into operation last year, more than 70% of the world's total. But that was less than the 47.4 GW China added in 2023.

China's new builds in 2024 were at the highest in a decade, researchers said earlier this year.

"Arguably what we are primarily seeing are Chinese coal interests continuing to pursue and build new coal plants, enabled by lax government enforcement of its own guidelines and pledges," said Christine Shearer, who runs GEM's Coal Plant Tracker programme.

While China says it is building coal power to back up its wind and solar plants, most of the new projects are in regions that already have more than enough coal-fired capacity, Shearer added.

India saw coal power increase by 5.6 GW in 2024, versus 5.5 GW in 2023, according to data from GEM. Other countries that launched new plants in 2024 included Indonesia, Bangladesh, Pakistan, South Korea and the Philippines.

GEM warned that some countries, including the US, were delaying plans to phase out old plants.

"Retirement delays are happening predominantly in countries that are not building sufficient clean energy to cover the retirements," Shearer said.

Renewables grew 585 GW last year, up 15% since 2023 and amounting to 92.5% of all global capacity additions, the International Renewable Energy Agency said last week.

However, it needs to grow 16.6% a year for the rest of the decade in order to meet a 2030 target to triple capacity.

The energy transition is not moving fast enough to cope with rising electricity use, said Rana Adib, executive director of the Paris-based renewable energy policy alliance REN21.

"Renewable energy has not yet been allowed to replace fossil fuels, and is basically meeting the increase in energy demand," she said.

Published by Reuters, 3 April 2025

This month's top international coal headlines

  • Med, MENA thermal coal prices steady amid limited demand from key buyers
    — Platts CTI
  • Trades remain limited in the Atlantic thermal coal market as buyers remain in wait-and-watch mode — Platts CTI
  • Sufficient stocks limit price gain in South African thermal coal market — Platts CTI
  • US EIA outlook sees continued role for coal-fired power without Biden’s CO2 rule — Platts CTI
  • Impact of Transnet trade union standoff on South African thermal coal prices seen limited — Platts CTI
  • Richards Bay prices rangebound amid quiet prompt market
    — Southern Africa Coal Report
  • S. Africa coal traders being squeezed out of weak market
    — Southern Africa Coal Report
  • API2: Gains amid mixed market signals — i-Energy
  • API4: Hold steady amid weak fundamentals and buyer caution — i-Energy
  • Thermal coal: Market sees surplus offers amid tepid demand and stable freight
    — i-Energy
  • Saudi Arabia announced the discovery of 8 new oilfields and 6 new gasfields
    — Global Energy
  • Demand remains slow in European thermal coal market amid rise in solar generation — Platts CTI
  • Stock, sale trader demand aids South African thermal coal prices; trades limited
    — Platts CTI
  • Trump aims to reverse US coal industry’s decline with series of executive orders
    — Platts CTI
  • Asian thermal coal market buyers hesitant as domestic production rises, and freight rates fall — Platts CTI
  • Trump signs executive order to help revive dying coal sector — Mining.com
  • API2: Retreat as tariffs and seasonal shifts reshape outlook — i-Energy
  • API4: Extend decline amid global trade tensions — i-Energy
  • Thermal coal: Market slows amid weak demand, trade tensions, and oversupply
    — i-Energy
  • European thermal coal market sees slight uptick in prices despite low coal burn
    — Platts CTI
  • Japan’s thermal coal importers look to alternative markets amid environmental pressure, sanctions — Platts CTI
  • Minerals Council South Africa concerned about impact of US tariffs on mineral demand — Platts CTI
  • George insists new air-pollution exemptions for eight Eskom coal stations not a ‘blanket reprieve’ — Engineering News
  • Global coal power capacity inches up in 2024, data shows — Reuters
  • Botswana seeks new Eskom power deal as supply crisis deepens — Bloomberg
  • South African thermal coal market sees inquiries from India's sponge iron sector
    — Platts CTI
  • TURKEY DATA: Thermal coal imports remain largely unchanged in February
    — Platts CTI

Headlines from earlier this year

March 2025
  • API2: Coal prices surge amid supply concerns while natural gas drops on softer demand — i-Energy
  • API4: Futures hold steady amid bearish market conditions — i-Energy
  • Thermal coal: Market gains slightly amid sentiment-driven uptick — i-Energy
  • Global growth in demand for electricity accelerated drastically — Global Energy
  • South African thermal coal prices remain rangebound as buyers resort to wait-and-watch mode — Platts CTI
  • South Africa's Transnet, SATAWU reach agreement on new three-year wage hike — Platts CTI
  • Demand for Indonesia mid-CV thermal coal weakens, amid price pressures, rising competition — Platts CTI
  • Richards Bay edges up on lower export forecasts — Southern Africa Coal Report
  • Ndalamo buys Wonderfontein colliery from Glencore JV
    — Southern Africa Coal Report
  • RBCT March exports seen up 27% on month — Southern Africa Coal Report
  • Coal regains traction in Africa with new power plants
    — Southern Africa Coal Report
  • Asian thermal coal prices pressured by tepid buying from end-users — Platts CTI
  • European thermal coal derivatives volume rises 4% MOM in Feb on favourable economics — Platts CTI
  • API2: Energy markets face volatility as geopolitical tensions impact gas and coal prices — i-Energy
  • API4: Futures steady at four-year low amid market pressure — i-Energy
  • Thermal coal: Market struggles amid supply glut and muted demand — i-Energy
  • States Modify Policies to Attract New Power Plants — IER
  • European thermal coal prices slightly rise on gas market, Russia-Ukraine speculations — Platts CTI
  • Thungela interested in leasing Sasol coal for export — Miningmx
  • Asian thermal coal prices face pressure amid fall in HBA prices, high stocks
    — Platts CTI
  • Buyers continue to control the South African thermal coal market on ample supply — Platts CTI
  • Uncertainty looms over South African thermal coal exports amid wage standoff with unions — Platts CTI
  • Asian thermal coal market anticipates rise in inquiries as Indonesia lowers HBA prices — Platts CTI
  • API2: Coal prices edge higher amid volatile natural gas market — i-Energy
  • API4: Futures slide to four-year low amid weak demand — i-Energy
  • Thermal coal: Prices saw mixed trends across origins — i-Energy
  • Mantashe lauds opening of Seriti's Naudesbank Colliery, insists coal mining remains critical — Mining Weekly
  • Med, MENA thermal coal prices rangebound amid weak importer demand
    — Platts CTI
  • European thermal coal sees volatile prices amid Russia-Ukraine ceasefire uncertainty — Platts CTI
  • South African thermal coal prices fall as bids fail to improve — Platts CTI
  • API2: Coal prices rebound amid paper trade activity — i-Energy
  • API4: Prices lifted by API2 gains despite weak demand — i-Energy
  • Thermal coal: Prices rebound despite limited demand — i-Energy
  • Wind and solar overtook coal power in the US last year — Heatmap
  • Sellers refrain from offering South African thermal coal on buyers’ low bids
    — Platts CTI
  • TURKEY DATA: Thermal coal imports remain largely unchanged in January
    — Platts CTI
  • ITALY DATA: Thermal coal imports fall 67% YOY in 2024 to 1.72 Mt — Platts CTI
  • API2: Prices extend decline amid easing energy concerns and milder weather
    — i-Energy
  • API4: Prices plunge to two-year low as buyers seize control — i-Energy
  • Thermal coal: Prices dip into the red as importers hold back; freight rates sail higher — i-Energy
  • i-Energy analysis: Indonesia’s HBA-based coal pricing takes effect – our perspective on the impact — i-Energy
  • China's 2024 coal power construction hits 10-year high, researchers say
    — Reuters
  • BP's green failure offers Big Oil a lesson in moderation — Reuters
February 2025
  • Spots of demand appear in Med, MENA thermal coal market — Platts CTI
  • European thermal coal prices reach multi-year low as consumption remains low
    — Platts CTI
  • Asian thermal coal struggles amid uncertainty over Indonesia’s HBA pricing, weak demand — Platts CTI
  • South African thermal coal market limited by low bids from buyers — Platts CTI
  • Activities in Asian thermal coal market lower amid high stocks and price pressures — Platts CTI
  • Retaking control: Africa boosts indigenous participation in oil and gas ventures
    — Energy Institute
  • Asian thermal coal market stagnates as major consumers hold back — Platts CTI
  • API2: Coal prices drop amid falling gas prices — i-Energy
  • API4: Prices decline further as EU demand wanes — i-Energy
  • Thermal coal: A tale of diverging trends amid rising freight, power demand, and sluggish industrial activity — i-Energy
  • We need to get smart about climate — Financial Post
  • Richards Bay market drops below key $100/t FOB level — Platts CTI
  • S. Africa's Nov coal exports surge to two-year high — Platts CTI
  • Limited inquiries in Asian thermal coal market amid rising freight, high stocks
    — Platts CTI
  • Indonesia’s coal consumption to peak no earlier than 2037
    — Global Energy Association
  • US Energy Secretary attacks 'sinister' net zero goals, singling out Britain
    — Reuters
  • Trades remain limited in Atlantic thermal coal market as buyers place low bids
    — Platts CTI
  • DOE Secretary Wright: Coal is Critical to Meeting Energy Demand — IER
  • Operationally, 2024 was strong year for Glencore, CEO Gary Nagle highlights
    — Mining Weekly
  • Glencore aims to produce up to 100 Mt of thermal coal in 2025 — Platts CTI
  • South African thermal coal market sees wide bid-offer gap, keeping trades limited — Platts CTI
  • API2: Prices fall as natural gas retreats and EU considers price cap — i-Energy
  • API4: Prices hits one-year low amid bearish market sentiment — i-Energy
  • Thermal coal: Struggling demand, strong supply, and freight prices on the up
    — i-Energy
  • Coal's Persistence Signals The Myth Of The Energy Transition — Forbes
  • Trump’s New Energy Team Issues Orders for American Energy Dominance — IER
  • US should stop closure of coal-fired power plants, Wright says — Bloomberg
  • Teke to lead Southern Africa chapter of FutureCoal — Mining Weekly
  • Asian thermal coal prices remain rangebound despite rise in Chinese enquiries
    — Platts CTI
  • South African thermal coal market sees limited trades on low bids from buyers
    — Platts CTI
  • India Energy Week 2025: PM Modi emphasizes energy security, sustainability as India’s appetite for fuel grows — Platts CTI
  • Coal continues to dominate China’s energy landscape — Oilprice.com
  • Indonesia's 2024 coal output hits record high — Reuters
  • Demand remains weak in South African thermal coal market as buyers stay on sidelines — Platts CTI
  • Growth was a common theme at the 20th McCloskey Southern African Coal Conference — Helmo Preuss
  • MINING INDABA: S African minister calls for Africa to beneficiate its own minerals — Platts CTI
  • API2: Coal prices rise as natural gas hits 15-month high — i-Energy
  • API4: Price move north buoyed by the rising tide of the API2 contract — i-Energy
  • Thermal coal: Market pauses amid subdued demand and new year holidays
    — i-Energy
  • Richards Bay coal exports soar as Transnet’s recovery plan bears fruit
    — Platts CTI
  • Weak buying activity in Asian thermal coal market on low Indian bids, China’s absence — Platts CTI
  • Weak demand weighs on South African thermal coal exports — Platts CTI
  • Prices rangebound at Asian thermal coal market amid limited enquiries
    — Platts CTI
January 2025
  • Asian thermal coal market slows; major participants away for holidays — Platts CTI
  • API2: Prices stabilize as market sentiment shifts with easing supply concerns
    — i-Energy
  • API4: Price corrected downward as support from API2 weakened — i-Energy
  • Thermal coal: Market struggles to stay afloat amid seasonal slowdown — i-Energy
  • Falling temperature in Europe leads to slight rise of coal consumption, prices volatile — Platts CTI
  • Global Coal Use Hits Another Historic Record in 2024 — IER
  • Trump Pauses Permitting for All Renewables on Federal Lands — Heatmap
  • Twenty-five years of German energy transition: a way not to go — Clintel.org
  • Demand remains weak in South African thermal coal market as most buyers stay on sidelines — Platts CTI
  • President Trump withdraws from Paris Agreement again despite climate crisis
    — Energy Institute
  • European thermal coal derivatives volume rise 11% MOM in Dec amid favourable market economics: LEBA — Platts CTI
  • API2: Coal prices rebound amid natural gas surge, market dynamics drive gains
    — i-Energy
  • API4: Price adjust upward, reflecting API2 contract movement — i-Energy
  • Thermal coal: Market faces bearish trend amid weak demand and oversupply
    — i-Energy
  • China ramps up coal production amid renewable energy development
    — Global Energy
  • Spots of demand appear in Med, MENA thermal coal market for late Q1-Q2
    — Platts CTI
  • Buyers continue to place low bids in South African thermal coal market kept trades limited — Platts CTI
  • IEA: Global coal demand set to plateau through 2027 — World Coal
  • API2: Coal price plummets to 10-month low — i-Energy
  • API4: Weak global coal demand hits SA coal prices hard — i-Energy
  • Thermal coal: No sign of recovery, prices hit 42-week low, remain in the red
    — i-Energy
  • India sponge iron producers buy three SA cargoes — McCloskey
  • South African thermal coal prices fall further amid lackluster demand — Platts CTI
  • Asian thermal coal market remains cautious amid weak demand — Platts CTI
  • API2 prices surge before leveling off, weighed down by muted demand — i-Energy
  • API4 coal futures took a southward turn — i-Energy
  • Thermal coal: Prices stay stuck in the red, struggling for a rebound — i-Energy
  • India's coal production and dispatch post notable growths in Dec 2024
    — sxcoal.com
  • TURKEY DATA: Thermal coal imports drop 11% on month in Nov with buyers on sidelines — Platts CTI
  • ITALY DATA: October thermal coal imports drop on month amid sufficient stocks
    — Platts CTI
  • Thin demand persists in Asian thermal coal market as buying interest wanes further — Platts CTI
  • South African thermal coal market sees activity slowdown during year-end holidays — Platts CTI

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