Repowering to accelerate the global energy transition

With philanthropic funding from HSBC, the Repower Initiative is undertaking research to explore the feasibility of repowering in Asia, including identifying potential sites for conversion.

June 6, 2024

Repower Initiative released Financing the Clean Repowering of Coal Power, a whitepaper introducing the less explored concept of ‘repowering’ the global fossil-fuelled coal asset fleet to repurpose them to produce cleaner energy and support a just and timely net zero transition.

With estimates showing that $215 trillion of investment will be needed to reach net zero by 2050, it has never been more important to identify cost-effective climate solutions. Particularly for the high emitting fossil fuel-based power generation, such as coal fired power plants(CFPP), which are the largest single contributor of greenhouse gases globally, but many countries remain highly reliant on them to power their economies.

Since 2019, more than 500 new coal powered units have come online globally, and over half of all coal plant capacity is under 15 years old. Their closure in the near-term, ahead of their planned lifespans would involve stranded investment as well as significant economic, technical, societal and political difficulties.

Read The press releaseRead the whitepaper