MANILA — State-run Korea Electric Power Corporation (KEPCO) will be cleaning up its widely criticized overseas coal energy investments, putting in limbo two projects in the pipeline in the Philippines and South Africa. In a state audit on Oct. 15, KEPCO president Kim Jong-gap said the company will finance two existing projects: the Jawa 9 and 10 plants in Indonesia, which were approved in June; and the Vung Ang 2 plant in Vietnam, which the board approved in early October. “Out of the four [overseas coal power plants] projects, we decided to go ahead with two, and transition the other two to gas or cancel them at this point,” Kim said. “KEPCO and its subsidiaries will not be pursuing new overseas coal power projects.” The statement effectively halts the construction of two projects, the 1,000-megawatt (MW) Sual 2 plant in the Philippines and the 630 MW Thabametsi plant in South Africa, groups said. Sual 2 in Pangasinan province is among KEPCO’s four overseas coal-fired power plant projects that have met international criticism for contradicting the Korean Green New Deal, a government plan to spend fiscal stimulus on renewable and clean energy technologies and prohibit state coal investments, both local and overseas. On Oct. 13, residents and anti-coal groups submitted an appeal letter against KEPCO Philippines’ Sual 2 power station. Image courtesy of Save Sual Movement South Korea has invested about $10 billion in overseas coal power projects since 2008, making it one of the top three public financiers of coal.…This article was originally published on Mongabay Läs mer