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World Energy Outlook 2022 Outlook for solid fuels
…Meanwhile there have been limited short-term fuel switching opportunities to ease demand pressures. The overall result is that global coal prices reached historic highs in the first-half of 2022. Key findings Global coal demand rebounded strongly in 2021 to 5 640 million tonnes of coal equivalent (Mtce) as economies recovered from the pandemic and coal-fired power generation reached a historic high in 2021. Both China and India have boosted investment in domestic coal production, but global production struggled to keep pace with demand increases, causing coal prices to surge. Russia – the world’s third-largest coal exporter – and…
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Renewables 2022 Renewable heat
…2022, global heat consumption – excluding ambient heat harnessed by heat pumps – is projected to grow almost 14 EJ (+6%) during 2022-2027. Increasing industrial activity drives this trend, with China and India together representing 60% of industrial heat demand growth, while energy efficiency improvements allow building heat consumption to decline 4% globally. The traditional use of biomass is anticipated to decline by more than 3 EJ (‑13%) over the outlook period, mostly in China and India, owing in part to the deployment of improved biomass cookstoves. Modern renewable heat consumption is expected to increase by almost one-third during 2022-2027, raising…
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Energy Efficiency 2024 Executive summary
…from fossil fuels and lowering emissions Energy efficiency progress is crucial for the transition away from fossil fuels. In a pathway aligned with the IEA’s scenario for achieving net zero energy sector emissions by 2050, accelerating energy efficiency improvements can deliver over 70% of the projected decline in oil demand and 50% of the reduction in gas demand by 2030. This oil demand reduction, which would be roughly equivalent to total oil use in China in 2024, comes in large part from technical efficiency gains, such as improving the fuel efficiency of vehicles, and electrification, including switching to EVs…
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Energy Efficiency 2024 What is required to scale up energy efficiency investments by 2030?
…Efficiency investment is highly concentrated, with almost 90% of spending occurring in China and advanced economies. In the NZE Scenario, energy efficiency investments in advanced economies almost double by 2030, while in China and other EMDEs, investments grow four to seven times, compared to today. Due to the rapid rate of urbanisation in most developing economies and the need to construct highly efficient zero-carbon-ready buildings, the investment seen in the buildings sector stands out in the NZE Scenario. A sixfold increase in spending is seen in China and even higher increases in other EMDEs. While industry is one of…
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Energy Efficiency 2025 Transport
…Next to that, bonus-malus schemes and other taxation policies can incentivise the purchase of more efficient cars while penalising less efficient ones, requiring less fiscal space from governments. Last, governments can promote modal shift by creating an infrastructure to make efficient transport attractive.Efficiency improvement through the electrification of two-wheelers is relevant in many emerging economies, such as China, India and Indonesia, where a large part of the population uses them for commuting. Policies such as electrification targets, infrastructure support including charging and battery swapping stations, tax exemptions and financial support can accelerate their deployment.For heavy-duty…
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China’s Official Energy Finance in Emerging and Developing Economies Case 2. Southern power grid’s acquisition of Enel Peru distribution assets
…improved fault-response efficiency by 40% and significantly reduced the duration and frequency of outages. These early results demonstrate how the transfer of operational know-how – not only capital – can accelerate system upgrades, improve service quality and support the integration of more clean energy into Peru’s power system. Financing model and China’s role The acquisition was financed through a USD 2.3 billion loan from CEXIM, with CSGI providing roughly USD 620 million in equity. This structure reflects the scale and time sensitivity of the transaction: delays in approvals compressed the closing window, and the availability of large…
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China’s Official Energy Finance in Emerging and Developing Economies Case 5. Silk Road fund commitment in African Infrastructure Investment Fund IV
…TLG), which operates rail and port assets and is working to cut corridor emissions through improved operational efficiency.Through its participation, the SRF gains exposure to a diversified portfolio of sustainable assets across multiple African markets rather than through single-asset project finance. It has also appointed a representative to AIIF’s ESG Advisory Committee, strengthening the fund’s environmental and governance approach. Financing model and China’s role AIIF4 reached financial close in August 2024 at USD 748 million, with an additional USD 206 million approved for co-investment. Its investor base comprises 29 institutions, including DFIs, pension funds, insurance…
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China’s Official Energy Finance in Emerging and Developing Economies Case 6. CNOOC investment in Guyana: Whiptail Oil Field
…developments (Liza Phases I–II, Payara, Yellowtail and Uaru), Whiptail is developed under a long‐term partnership between ExxonMobil (45%, operator), Hess (30%) and CNOOC (25%).For China, this project represents the continuation of a significant upstream presence in the region. With Stabroek resources now estimated above 11 million barrels, CNOOC’s 25% interest gives it exposure to one of the world’s most commercially attractive new oil provinces, with around one-quarter of total resources attributable to the company.Guyana in 2021 passed the Local Content Act to protect local interests in oil development. The Act requires oil companies…
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China’s Official Energy Finance in Emerging and Developing Economies Case 7. Palembang waste-to-energy plant
…s most advanced PPP-based WTE developments to date. Initiated by Zheneng Jinjiang Environment Holding Company Limited, a Chinese SOE and leading WTE operator, the project will treat 1 000 tonnes of municipal waste per day and generate 20 MW of electricity. Over a year, it will process nearly 300 000 tonnes of waste, reducing the city’s reliance on landfill disposal, cutting methane emissions, and improving local environmental conditions. The project broke ground in September 2024 with China Power Engineering Consulting Group as the EPC contractor, with operations expected to start in 2026. It contributes directly to Indonesia’s plan to…
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Coal 2025 Executive summary
…combination of higher natural gas prices and a slowdown in the retirement of coal plants due to policy support led by the federal government. In the European Union (EU), lower hydropower and wind output pushed up coal power generation in the first half of the year. As a result, EU coal demand is set to decrease by only around 2% in 2025 – a much smaller decline than the double-digit drops in 2023 and 2024.In China, which consumes more coal than the rest of the world combined, demand is on course to mirror its 2024 level, as expected. In turn…
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