This article was written by Mark Raven.
This week the international coal industry received another major blow to its credibility as an energy source for the future – undermining governmental support for this out-dated industry and ramping up pressure on those standing in the way of Turkey’s massive renewable energy potential.
On Monday the International Energy Agency (IEA) released new data showing that coal power will likely become prohibitively expensive in promising emerging economies, like India. This news compounds recent decisions from top financial institutions and development banks that have promised to shift their investment away from coal projects.
Despite this, the Turkish government is forging ahead with plans to build 50 coal-fired power plants with a total installed capacity of 37,000 MW. If fulfilled, this will make Turkey the biggest investor in new installed coal capacity among OECD countries and fourth globally, behind only China, India and Russia.
