Peabody in China
Peabody Energy has a growing global platform to serve China and other high-growth demand centers in the Pacific Rim.
Low-cost coal today powers more than three-fourths of China’s electricity needs, prompting the International Energy Agency to call China a “coal-fueled economic miracle.” Tens of millions of Chinese people are moving to cities and embracing a better quality of life that requires greater amounts of coal-fueled energy and steel.
China, along with India, is driving the most significant build-out of coal-fueled generation in decades to satisfy enormous anticipated need. New coal-fueled power plants and steel mills are rising along China’s coast, positioned for coal imports to serve rapidly expanding population centers. The world’s largest market for seaborne coal, China is projected to add more than 100 gigawatts of coal-fueled generation by 2016. Every gigawatt represents an additional 3 million tonnes of annual coal use over time. In 2013, China overtook Japan to become the world’s largest importer of metallurgical coal.
Peabody Energy is best positioned to serve this growth through our Australian exports, global trading and brokerage activities and Asian business development projects. Peabody is a global leader in sustainable mining, energy access and clean coal solutions. Our value proposition is simple: Peabody will offer world-class expertise in engineering and project management, a reputation for integrity and a record of safety, productivity and environmental results.
The company is advancing a pipeline of projects and partnerships in China with leading energy, coal and steel companies. In 2013, Peabody extended its physical trading and brokerage presence in Asia through a strategic joint venture with China’s Shenhua Group. The company is focused on increasing trading activity in Asia following this recently signed joint venture agreement, which is intended to supply Shenhua's Chinese coal import demand with thermal coal. Peabody is also pursuing the development of a large open-cut mine in Xinjiang Province.
China is home to some of the world’s most advanced low-carbon and near-zero emissions coal technologies. As the only non-Chinese participant in GreenGen, Peabody is helping drive the development and deployment of a new generation of technology capable of ultimately achieving near-zero emissions. GreenGen is China's signature carbon initiative, a power plant and carbon research center in Tianjin. It is the first integrated gasification combined cycle power plant project in China and a model for the world. Peabody is also a founding member of the U.S.-China Energy Cooperation Program, a public-private partnership to accelerate the commercialization of clean coal projects in China.
Peabody Investment & Development Business Services Beijing Co., Ltd
Suite 4201, Beijing Yintai Center
Tower C, No.2 Jianguomenwai Avenue
Beijing, 100022, China
Phone: +86 10 6529 8666
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