China is moving ahead rapidly with its construction of renewable
energy projects across the country, with hydro and wind-power
capacity to reach 180 million kilowatts and 5 million kilowatts
respectively by 2010.
Xu Dingming, deputy office director of the State Council Energy
Leading Group, was quoted by the Shanghai Securities News as
saying this at the Second East Asia Investment Forum last
Saturday.
By 2020 the country's installed capacity of hydro and wind power
is expected to total 300 million kilowatts and 30 million kilowatts
respectively, he said. The construction of renewable energy
projects by 2020 in China will demand investment of 800 billion
yuan (about US$100 billion), he added. .
China also plans to build up biogas installed capacity of 30
million kilowatts by 2020 and solar installed capacity of 1.8
million kilowatts by 2020.
The Chinese government will set up special fund to support
renewable energy projects, giving assistance to their research and
development as well as favorable tax policies to relevant
enterprises, he added.
China plans to raise its electricity installed capacity for
renewable energy to 10 percent of its total power capacity by 2010
and 16 percent by 2020. Soaring oil prices have made renewable
energy a priority for domestic and world investors.
The Second East Asia Investment Forum was held in Shandong
Province from July 29-30, 2006.
(Xinhua News Agency July 31, 2006)