Japanese and Korean investors need to reassess the financial risk of gas-fired power projects in the Pennsylvania-New Jersey-Maryland (PJM) system, where wind and solar gain competitiveness against natural gas. Analysts say Japan’s exposure to such projects in PJM amounts to several billion U.S. dollars, and several plants face delays.
South Africa’s state utility Eskom needs to reconfigure its fleet given that 10,000 MW of thermal capacity will retire by 2030. Bhavtik Vallabhjee, Head of Power Utilities at Absa Bank pointed out a renewables rollout would still be cheaper than retrofitting ageing coal power plants to clean coal units.
Gazprom has made a loss due to a weak Russian currency and 40% plunge in sales to Europe as the pandemic depressed demand and prices. For the nine months ended Sept. 30, Gazprom booked a net loss of 218.38 billion Rubles ($2.85 billion) compared with a 1.048 trillion Rubles profit in the pre-year period.