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China’s US$7.7 billion renewables energy project
09 January 2024
According to media reports, a Chinese energy firm has broken ground on a new CNY55 billion yuan (US$7.7 billion) renewables mega project.
China is investing heavily in solar power
Located in the Shanxi province, to the south and the west of Beijing, the project is said to combine wind turbines, solar panels and battery storage in an old coal mining area.
The company that has started construction is State-owned Jinneng Holding Group Co. and it is reported that, when complete in 2025, it will supply 6 gigawatts of wind and solar capacity and 3.4 gigawatt-hours of energy storage.
China is the world’s largest emitter of emissions when broken down by country, but it is also one of the largest investors in ‘green’ energy.
According to a report for Carbon Brief, solar installations increased by 210 gigawatts (GW) in 2023, twice the total solar capacity of the US and four times what China added in 2020.
The government’s push to electric power has been taken up by China-based construction equipment manufacturers, with all the major OEMs such as XCMG, Sany, LiuGong, SDLG and more producing electric excavators and or wheeled loaders.
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