Global coal power additions in 2024 fell to their lowest level in two decades, yet the overall size of the world’s coal fleet continued to expand, a new report from US-based think tank Global Energy Monitor (GEM) has revealed.
According to GEM’s Global Coal Plant Tracker, 44.1GW of coal power capacity was commissioned, and 25.2GW was retired in 2024 globally, culminating in a net rise of 18.8GW.
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The capacity commissioned is almost 30GW below the 20-year annual average of 72GW, indicating a slowdown in coal construction globally.
China remains the principal driver of this growth, commissioning 30.5GW of coal power capacity in 2024, accounting for 70% of the global total.
The country also experienced a surge in new construction starts, reaching 94.5GW, the highest in almost ten years.
India also proposed a record 38.4GW of new coal power.
The global coal development landscape is now highly concentrated, with just ten countries accounting for 96% of coal power capacity under development. China and India alone are responsible for 87% of this figure.
This concentration reflects the accelerating departure from coal in many parts of the world, even as a few countries continue to pursue expansion.
Outside of China, the rest of the world saw a decrease in coal power capacity by 9.2GW, as retirements outstripped new additions.
In Europe, the coal power landscape is rapidly changing, with the EU27 quadrupling its coal retirements to 11GW and the UK shutting down its last coal plant.
The US also saw a deceleration in coal retirements, recording only 4.7GW, the lowest in a decade.
US coal power plant retirements are expected to double in 2025, with more than 12.3GW set to be decommissioned, according to the Energy Information Administration (EIA).
In the Organization for Economic Co-operation and Development (OECD) countries, the shift from coal is particularly pronounced, with plant proposals plummeting from 142 in 2015 to only five currently.
Japan and South Korea remain outliers among OECD countries, continuing to build and plan new coal plants.
Global Energy Monitor’s Global Coal Plant Tracker project manager Christine Shearer stated: “Coal power set records last year – but not the ones industry would like to see. Last year was a harbinger of things to come for coal as the clean energy transition moves full speed ahead. But work is still needed to ensure coal power is phased out in line with the Paris climate agreement, particularly in the world’s wealthiest nations.”
In Southeast Asia, a shift towards a managed exit from coal is evident, with new proposals dwindling and countries such as Indonesia and Malaysia committing to phaseouts.
In Latin America, the trajectory towards coal phaseouts is clear, with only Brazil and Honduras holding onto coal proposals. Panama’s commitment to phase out coal by 2026 adds to the regional momentum.
Africa’s coal development is limited, with most countries focusing on renewables and gas. However, new coal proposals in Zimbabwe and Zambia, largely backed by Chinese developers, defy the Chinese government’s 2021 pledge to halt new coal plants overseas.
