So far, the majority of BRI projects are energy-related: Since 2000, Chinese-led policy banks have invested $160 billion in overseas energy projects, almost as much as the World Bank and regional development banks. But unlike the World Bank, 80 percent of China’s overseas energy investments went to fossil fuels — $54.6 billion to oil, $43.5 billion to coal, and $18.8 billion to natural gas — compared with only 3 percent to solar and wind and 17 percent to often-controversial hydro projects.
When the Global Environment Institute, a Beijing-based NGO, reviewed China’s involvement in coal power projects in 65 countries participating in the Belt and Road Initiative, it discovered that between 2001 and 2016 China had invested in 240 coal power plants along the BRI, with a total generating capacity of 251 GW.
240 new coal power plants on the BRI path.
In addition, Chinese power producers have asked the government to allow for the development of between 300 and 500 new coal power plants by 2030, suggesting that coal-power capacity should expand to 1,300 GW by 2030 — 290 GW higher than the current capacity
between 300 to 500 new coal power plants within China.
Total new coal power plants funded by China – between 540 and 740.
But Australia closing its handful to go renewable will save the world.