U.S. Coal and Gas Investors Could Lose $68B Due to Renewables’ Rapid Rise
- Aug 25, 2021 3:25 pm GMT
U.S. investors may be forced to write off $68 billion worth of coal and natural gas power plants due to the rapid rise of renewable electricity, S&P Global Market Intelligence warns in a report released earlier this month.
“Some $34 billion in spending on new natural gas-fired baseload generation, and another $34 billion invested in pollution controls meant to extend the life of older coal-fired power plants, may ultimately have to be written off by investors as stranded costs,” Utility Dive reports, citing S&P Director of Energy Research Steve Piper.
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