China commissioned 94.5 GW of coal-fired power plants in 2024

China commissioned 94.5 GW of coal-fired power plants in 2024. Although China is making very significant investments in renewable energy with the commissioning of 356 GW of wind and solar photovoltaic power plants, the commissioning of coal-fired power plants is at its highest level in 10 years. China is the world's largest emitter of greenhouse gases, accounting for 30% of global emissions. More than 75% of investments in new coal-fired power stations are financed by mining companies, which are looking for outlets for their production. In addition, many industrial customers have signed long-term purchase contracts with coal-fired power stations with take-or-pay clauses from which they cannot withdraw.