The Japanese government has announced that it will no longer fund the Matarbari Coal-Fired Power Plant’s construction. Hikariko Ono, the press secretary for Japan’s foreign ministry, made the announcement at a press conference on Wednesday.
Ono also stated that Japan is suspending funding for the Indrayu Coal-fired Power Plant Project in Indonesia. According to Japanese media, the decision is part of Japan’s commitment at the G7 summit to stop supporting fossil fuel-generated power plants that do not take measures to reduce greenhouse gas emissions by 2021. In Cox’s Bazar, the Matarbari coal-fired power plant is being built in Maheshkhali. The 1.2GW project is being developed by the state-owned enterprise CPGCBL (Coal Power Generation Company Bangladesh) with an estimated investment.
Sumitomo Corporation, one of the three EPC contractors implementing the first phase of the Matarbari coal-fired power plant project, announced earlier this month that it would not participate in the project’s second phase.