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China Plans Coal-Power Revamp to Help Ailing Generators
- Five power firms had $156 billion of coal-power liabilities
- Trial program to be focused on five northwestern regions
A man tends to vegetables in the shadow of a coal-fired power station in Tongling, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China is pursuing a three-year pilot program, led by five of its biggest utilities, to integrate and cut some coal-fired power capacity to help the debt-saddled industry, state media reported.
The pilot, which runs through 2021, will seek to consolidate coal-power assets within five northwestern regions and reduce their capacity by up to one-third, according to a Shanghai Securities News, citing sources it didn’t identify.