Mitsubishi Corp. will pull out of the $2 billion, 2-gigawatt Vinh Tan 3 power plant project in Vietnam as it shifts away from carbon-intensive businesses in the face of climate change.
The Vinh Tan 3 project is located in the southern province of Binh Thuan.
Mitsubishi has committed to reducing coal power investment to keep in line with international climate goals.
The Japanese trading house has a stake in the Vung Ang 2 coal station project in the central province of Ha Tinh, which is the focus of environmental groups and investors.
Mitsubishi sponsors the Vung Ang 2 coal station project through a joint venture with Hong Kong’s CLP Holdings where they have a 49 percent stake. The Electricity of Vietnam Group has a 29 percent stake with Thai Bin Duong Group holding the remainder.
Japanese companies and financiers are dropping support for coal due to pressure from shareholders and activists.
Japan’s big banks have committed to ending their financing for coal mines and power stations.
Vietnam is expected to shift from a large coal power rollout as renewables investments start to take hold.


U.S. Stock Index Futures Steady After S&P 500 Hits Record on Strong Economic Data
Oil Prices Ease in Asia as Geopolitical Risks Clash With Weak Demand Outlook
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding
Gold Price Breaks $4,500 as Safe-Haven Demand and Rate Cut Bets Fuel Rally
BOJ Minutes Reveal Growing Debate Over Interest Rate Hikes and Inflation Risks
Oil Prices Climb in Asian Trade as Venezuela Sanctions and Middle East Tensions Fuel Risk Premium
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization
Why U.S. Coffee Prices Are Staying High Despite Trump’s Tariff Rollbacks
Asian Stock Markets Trade Flat as Holiday Liquidity Thins and BOJ Minutes Watched
Global Markets Rise as Tech Stocks Lead, Yen Strengthens, and Commodities Hit Record Highs
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious
Oil Prices Edge Higher as Strong U.S. Growth and Supply Risks Support Market
Asian Markets Rise as AI Rally Caps 2025, Gold and Silver Hit Record Highs
U.S. Dollar Slips as Yen Finds Support on Intervention Signals and Geopolitical Risks Rise
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten
China’s Power Market Revamp Fuels Global Boom in Energy Storage Batteries 



