Articles

Chinese Ultra-Supercritical Coal Plants Investment Abroad Soars

by Rudy P. SysAdmin at howtofindthemoney
Chinese equity investment in solar, wind and coal power projects in Belt and Road Initiative countries surged from 2014 to 2019, with planned capacity up more than tenfold compared with the previous five-year period, environmental group Greenpeace has said.

The Belt and Road Initiative is a Beijing strategy to boost economic and trade ties in dozens of countries in Asia, Europe and beyond, mostly through investments in energy and infrastructure.



According to a study published by Greenpeace on Monday, China’s wind and solar power investments in belt and road countries amounted to 12.6 gigawatts since the initiative was launched in 2014. It had invested in just 0.45GW of solar before 2014.

The country has also invested in 67.9GW of new coal-fired power in belt and road countries since 2014, but Greenpeace climate and energy campaigner Liu Junyan said the increase in the share of renewables should be welcomed.

“Chinese investors’ ratio of coal to solar is now the same at home and abroad – both are still six to one [in favour of] coal, unfortunately, but I’m amazed to see what five years of equity investment in solar made possible,” Liu said.

China has been building dozens of new renewable energy projects at home to reduce the share of coal in its total energy mix to 59 per cent by the end of last year. It has also been encouraging its existing coal-fired power plants to install ultra-low emissions technology.

But China has been criticised for funding coal-fired power projects overseas that would not meet its own emissions standards, with a study published earlier this year saying it is supporting more than a quarter of all new coal-fired plants worldwide.

China was expected to put another 40GW of solar power capacity in operation at home this year, energy officials said on Friday.

China’s total coal-fired capacity was also expected to rise by another 45GW this year, with the total eventually expected to peak at around 1,300GW, up from 1,140GW at the end of last year, researchers from China’s State Grid said this month.


Sponsor Ads


About Rudy P. Magnate II   SysAdmin at howtofindthemoney

4,006 connections, 69 recommendations, 14,111 honor points.
Joined APSense since, April 9th, 2013, From Solo, Indonesia.

Created on Jul 30th 2019 19:28. Viewed 349 times.

Comments

No comment, be the first to comment.
Please sign in before you comment.