Chinese-financed coal projects in Southeast Europe
Briefing | 15 May 2018
Several EU enlargement countries in the Western Balkans – as well as EU member states Romania and Greece – plan to build new lignite power plants. In contrast, the EU aims to decarbonise its energy sector by 2050, most EU countries no longer build new coal plants and seven EU states are already coal-free.
The Balkan coal plans starkly conflict with the Paris Agreement’s aim of limiting climate change to 1.5°C. As the international financial institutions have virtually phased out direct coal financing, most of the plants are slated for loans from the state-owned China Eximbank, as well as other Chinese public banks.