context: Clean energy investment was a key driver of the PRCs economic growth in 2023, contributing C¥11.4 tn according to a report by CarbonBrief. Investment was spurred by rise of the ‘three new export products’ (new energy vehicles, lithium batteries and solar photovoltaics) and a number of large-scale solar and wind projects.
According to Zhang Xing 张兴 NEA (National Energy Administration) Comprehensive Department deputy director, in 2023
- completed investment in new energy increased 34 percent y-o-y
- solar power generation exceeded C¥670 bn
- centralised PV (photovoltaics) investment in Yunnan, Hebei and Xinjiang increased by more than 100 percent y-o-y
- wind power investment exceeded C¥380 bn
- onshore wind was accelerated in Liaoning, Gansu and Xinjiang
- large off-shore wind projects were concentrated in Guangdong and Shandong
- solar power generation exceeded C¥670 bn
- investment in supportive regulated power supply increased by more than 12 percent y-o-y
- nuclear power projects were accelerated and investment in large-scale hydropower projects continued to recover
- new energy vehicle infrastructure increased
- 95 percent of highway service areas are equipped with charging facilities
- all expressway service areas in 15 provinces and cities, including Beijing, Shanghai, Hebei and Anhui have charging infrastructure
- 12 provinces have achieved ‘full county’ coverage of charging stations and ‘full township’ coverage of charging piles
- coalbed methane production increased 20.5 percent y-o-y
- coalbed methane production reached 11.77 bn cubic metres, an increase of 20.5 percent y-o-y, and investment exceeded C¥10 bn
Overseas clean energy investments are spread across many countries, and export of wind and PV products continues to expand. Pan Huimin 潘慧敏, NEA International Cooperation Department deputy director, pointed out that while China is supporting development of clean energy globally, it also welcomes international companies to invest in China and promote the development of clean energy.