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Japan’s consumers will foot the bill for $bns in stranded coal assets

Some $71 Billion of Japanese assets will be left stranded as renewables undercut coal costs, with consumers left to pick up the pieces if policy isn’t changed imminently. A report from the University of Tokyo, Carbon Tracker and the Carbon Disclosure Project, entitled ‘Land of the Rising Sun and Offshore Wind’, has identified that $29 Billion of these assets lie in the 11 GW worth of projects currently in construction and $42 Billion in others which are likely to become redundant before their costs are fully paid out. It is estimated that 42% of current coal-fired plants are unprofitable, with this predicted to rise to 72% by 2040. But despite this, coal remains a big part of Japan’s plan for…

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