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As a general principle, Marubeni will no longer enter into any new coal-fired power generation business,” the company said in a statement announcing its new business policies on coal-fired power and renewables

New Delhi: Japanese trading house Marubeni Corp said on Tuesday it would halve its net coal-fired power generating capacity of about 3 gigawatts in the current business year by 2030 to reduce its greenhouse gas emissions.

“As a general principle, Marubeni will no longer enter into any new coal-fired power generation business,” the company said in a statement announcing its new business policies on coal-fired power and renewables.

But it added that it might consider pursuing projects that adopt the best available technology and are compliant with the policies and measures of the Japanese government and any country in which the project will be executed.

“Looking forward to the expansion of the renewable energy generation business, Marubeni will strive to expand the ratio of power generated by renewable energy sources in its own net power supply from approximately 10 percent to approximately 20 percent by 2023,” it added.