China has cut new coal power plant permits by nearly 80%, Greenpeace says

illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:

🗞️ Driving the news: China has significantly reduced the number of permits for new coal power plants, with a nearly 80% decrease in the first half of 2024 compared to the previous year, according to Greenpeace East Asia
•  This comes as the country's wind and solar energy capacity has surpassed coal for the first time

🔭 The context: Despite the slowdown in coal permits, China commissioned 14 new coal plants in early 2024, albeit a significant drop from the same period in 2023
•  The decrease in coal permits raises questions about China's future energy strategy amid ongoing investments in renewable energy

🌍 Why it matters for the planet: The shift away from coal permits suggests a potential turning point in China's energy transition, which could have a profound impact on global carbon emissions given China's role as the largest carbon emitter

⏭️ What's next: It remains uncertain whether this reduction signals a long-term decline in coal dependency or a temporary pause
•  The focus may shift to improving grid connectivity to better utilize the expanding renewable energy capacity

💬 One quote: "Only time can tell," said Gao Yuhe, Greenpeace East Asia project lead, on whether the slowdown in coal permits marks the beginning of the end for coal in China

📈 One stat: China's wind and solar capacity reached 11.8 terawatts (TW) in the first half of 2024, surpassing its coal capacity of 11.7 TW for the first time

Click for more news covering the latest on energy transition