- Published: Thursday, 23 January 2020 06:23
- Written by ASIA Miner News
By Simon Nicholas, Research Analyst IEEFA & Tim Buckley, Director of Energy Finance Studies IEEFA
The South Korean Ministry of Trade, Industry and Energy has proposed to increase the country’s renewable energy ambition. The country is likely to now target 30-35 per cent renewable energy by 2040, up from 8 per cent now. The Ministry also stated it will “drastically” reduce coal-fired power generation by banning new coal plants and retiring old ones.