Renewables Not Cost Competitive Until Mid-century -Glencore

LONDON, Sept 27 (Reuters) - Renewable energy will not be cost competitive with fossil fuels until 2050, Glencore said on Tuesday, much later than energy organisations forecast and supporting the mining and trading giant's case for continued investment in coal.

Glencore has said coal is still an investment opportunity, forecasting global demand will grow by 7 percent by 2030, driven by emerging economies and industrial demand, and halting spending would halve seaborne supplies in 15 years' time.

Glencore Chairman Tony Hayward told a conference in London on Tuesday that, like oil companies, the group would get a return on its investment.

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