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China is preparing to expand nationwide a ban on new coal plant construction announced in April in an attempt to further reign in overcapacity.
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China currently has over 900,000MW of coalfired capacity, the equivalent of about 1,300 large coalfired units. But, due to the country's slowing power demand growth and rapid expansion of clean energy, demand for power generated from coal has been falling since 2013, rendering roughly 200,000300,000MW of capacity redundant at 2015 demand .
IHS Markit: Methanol demand growth driven by .
In 2000, China represented just 12% of global methanol demand, while North America and Western Europe represented 33% and 22%, respectively. By 2021, IHS Markit said Northeast Asia (dominated by China), will account for nearly 70% of global methanol demand, followed by North America at just 9% and Western Europe at 8%.
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Global Coal Risk Assessment | World Resources Institute
China and India together account for 76 percent of the proposed new coal power capacities. New coalfired plants have been proposed in 10 developing countries: Cambodia, Dominican Republic, Guatemala, Laos, Morocco, Namibia, Oman, Senegal, Sri Lanka, and Uzbekistan.
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