Japan coal stalwart adds renewables

Bloomberg

Marubeni Corp, the Japanese trading house for whom coal makes up about a quarter of its power generation, never expected renewable energy prices to plunge as much as they have.
Seizing those falling costs, the company plans to add 1 gigawatt of clean energy over the next five years as it halves its coal-fired generation by 2030, according to Masumi Kakinoki, chief executive officer of the company’s electricity generation business.
“No one thought the cost of renewable energy would drop this much,” Kakinoki said in Tokyo during an interview. “There have been breakthroughs in energy technologies all over the industry.”