Who are the Banks & Investors behind the Global Coal Plant Pipeline?
Despite global consensus about the need for a timely coal phase-out, new coal plants are still being planned or developed in 60 countries around the world. If built, these projects would add over 570 GW to the global coal plant fleet, an increase of 28%. Based on findings of the Global Energy Monitor, the 2019 GCEL identifies 258 Coal Plant Developers, with expansion plans of at least 300 MW. Over half of these companies are not traditional coal-based utilities, and are therefore often missed by financial institutions’ coal exclusion policies.
Together with our partners, Banktrack, Les Amis de la Terre, Re:common and RAN, Urgewald commissioned financial research by the Dutch research institute Profundo to identify the main financiers and investors of these Coal Plant Developers.
We found 505 global banks provided US$ 745 billion for expanding coal power companies through loans or underwriting services from 2017 – Q3 2019. And as of September 2019, 1922 investors are holding bonds and shares worth almost US$ 276 billion in coal plant developers.
|Company Sort descending||Country of HQ||Underwriting (Mio $)||Loans (Mio $)||Grand Total (Mio $)|
|AES Corporation||United States||220.88||160.00||381.30|
|Banpu Public Company||Thailand||48.00||48.39|
|Beijing Energy Holding||China||39.00||38.89|
|China Huaneng Group||China||159.02||159.02|
|China Petrochemical Group (Sinopec Group)||China||138.62||138.62|
|China Southern Power Grid||China||250.00||250.00|
|Chongqing Energy Investment Group||China||38.46||38.46|
|CLP Holdings||Hong Kong||291.68||37.00||328.57|
|Egyptian Electricity Holding Company||Egypt||84.00||84.25|
|Electricity Generating Authority of Thailand (EGAT)||Thailand||89.62||89.62|
|First Pacific Co||Hong Kong||65.63||65.63|
|First Quantum Minerals||Canada||152.00||152.13|
|Korea Electric Power (KEPCO)||Indonesia||500.00||500.00|
|Power Finance Corporation||India||370.95||370.95|
|Rural Power Company Limited (RPCL)||Bangladesh||120.00||120.00|
|State Grid Corporation of China (SGCC)||China||1,061.42||257.00||1,318.39|
|State Power Investment Corporation (SPIC)||China||116.67||30.00||146.67|
|Yangquan Coal Industry||China||240.00||239.67|
|Yunnan Investment Holdings Group||China||125.71||125.71|