Reuters: China will plow 2.5 trillion yuan ($361 billion) into renewable power generation by 2020, the country's energy agency said on Thursday, as the world's largest energy market continues to shift away from dirty coal power towards cleaner fuels.
The investment will create over 13 million jobs in the sector, the National Energy Administration (NEA) said in a blueprint document that lays out its plan to develop the nation's energy sector during the five-year 2016 to 2020 period.
The NEA said installed renewable power capacity including wind, hydro, solar and nuclear power will contribute to about half of new electricity generation by 2020.
The agency did not disclose more details on where the funds, which equate to about $72 billion each year, would be spent.
Still, the investment reflects Beijing's continued focus on curbing the use of fossil fuels, which have fostered the country's economic growth over the past decade, as it ramps up its war on pollution. Cont'd...
By Reuters: “We fear a second wave of bankruptcies,” said the head of an association of EU solar producers. A sharp increase in solar power production in China and a sharp fall in domestic demand have sparked a sudden surge of cut-price exports, undermining a China-EU agreement to limit damage to European producers.
China produced 27 gigawatts (GW) of solar photovoltaic (PV) modules in the first half of 2016, an increase of 37.8 percent and installed 20 GW of new solar power capacity in the same period, three times as much as the same period a year ago.
However, demand has since tailed off. Solar projects operational since July face a reduced price paid by grid operators for their power. Cont'd...
Oliver Wheaton for Metro.co.uk: The massive solar plant, which will stretch out across the Gobi desert in the country’s Quinghai province, will cover 25 square kilometres of vacant ground space.
When finished the plant, called Delingha, is expected to have a capacity of 200 megawatts, which means it will power one million households all year round.
Delingha is the world’s first solar power plant to be run as a commercial entity after being jointly developed by BrightSource Energy from California and the Shanghai Electric Group in China.
The awesome structure will have six huge towers as well as thousands of solar mirrors which, due to their heat storage time of 15 hours, will be able to guarantee ‘stable and continual power generation’, according to Qinghai Solar-Thermal Power Group board chair, Wu Longyi. Cont'd...
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