Indonesia: Captive coal plant project co-financed by Sinosure, Jiangsu Bank and Jiangsu Huihong Zhongding contradicts China's pledge to end overseas coal projects, report says
"Rise in Chinese off-grid coal plants in Indonesia belies pledge to end fossil fuel support", Mongabay, 10 November 2025
[...] four years ago, China’s president, Xi Jinping, pledged to end his country’s official financing of overseas coal projects [...].
[...] new projects backed by Chinese government entities and state-owned companies have shrunk by more than a third worldwide, according to a report released Monday that was co-authored by the Centre for Research on Energy and Clean Air and People of Asia for Climate Solutions.
Still, Chinese-backed coal-fired generating capacity is going online.
For now, captive coal plants get a pass from policymakers [...].
In January 2022, four months after Xi’s pledge, the Jiangsu Branch of China Export Credit Insurance Company, Jiangsu Bank, part-owned by the provincial government of Jiangsu and the Jiangsu Huihong International Group Zhongding Holding Co., Ltd.,[...] signed a memorandum of understanding to start work on the third phase of the Delong Industrial Park in Indonesia, which includes a nearly 1 GW coal power plant, media reports show.