, China

Chinese banks 'genuinely' trying to exit coal: Project Finance International

Banks are said to have introduced policies to immediately phase out coal power from their investments.

Chinese banks are exiting the financing of coal energy, said a report by Project Finance International (PFI).

The report said that the number of coal-fired power plants that still have project finance debt is greatly diminished today, whereas 15 years ago they were all financed with non-recourse debt.

PFI said borrowers will need to rely heavily on their relationship banks, as most banks have introduced policies to phase out coal power exposure with Chinese banks getting a lot harder to ask to lend

“It’s not any easier getting Chinese banks to lend than other lenders. Maybe six to 12 months ago it was, but not now. The bigger Chinese state-owned entities are a lot more independent than they were even 12 months ago. They are genuinely trying to exit coal. Singaporean banks are exiting as well,” PFI said in its report.

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Why Singapore could be the ‘tipping point’ for ASEAN renewable and grid development
Heavily reliant on gas, the country is still on track for its 2035 net-zero target, but could be more ambitious to hit its 2050 goal by 2045.
Power Utility
Will the government pay for coal power exit in Vietnam?
The country’s coal power phase-out strategy sees renewables accounting for 67.7%–71.5% of the energy mix by 2050.