It's because the optimistic narrative about the reasons for coal's decline are misleading. Some of the competition is renewables. A lot of it is natural gas. C

It's because the optimistic narrative about the reasons for coal's decline are misleading. Some of the competition is renewables. A lot of it is natural gas. Countries are usually building a mix of fossil fuel and renewable generation. If you're a great power, have little natural gas or oil accessible by land (either in your own territory or through friendly neighbors), and have peer rivals with enormous navies, coal becomes very attractive as the fossil part of your energy mix for security reasons.