http://www.ppa.org.fj/news_docs/China230506.pdf
http://www.chinadaily.com.cn/china/2006-05/17/content_592759.htm
http://www.treehugger.com/files/2007/05/china_power_pla.php
http://www.chinadaily.com.cn/bizchina/2007-06/22/content_900323.htm
http://www.altassets.com/casefor/sectors/2007/nz10945.php
China a leading investor in renewable energy
(Xinhua)
Updated: 2006-05-17 09:43
China has become the top investor in renewable energy in the world,
experts said Tuesday at the ongoing forum for decentralized
sustainable energy solutions in China.
Dr. Eric Martinot, a senior research fellow with the U.S.-based
Worldwatch Institute and senior visiting scholar of Tsinghua
University, said that excluding large hydropower, China invested 6
billion U.S. dollars in renewable energy in 2005 out of a global
total investment of 38 billion dollars.
Soaring oil prices have made renewable energy a focus for world
investors, said Martinot.
Government support for renewable energy was 10 billion dollars in
2004 for the United States and Europe, including budget fund and
policy support. The United States and Europe provide more than 700
million dollars per year for research and development, said
Martinot.
Moreover, large commercial banks are starting to notice renewable
energy and several are adding renewable energy investments to their
lending portfolios, he said.
The industry of renewable energy is booming. There are now more
than 70 renewable energy companies worldwide with a market
capitalization greater than 40 million dollars each. Their total
market capitalization has been over 30 billion dollars.
Major investments and acquisitions have been made in recent years
by leading global companies such as GE, Siemens, Shell, BP, Sanyo
and Sharp and the industry could provide over 1.7 billion jobs
worldwide, he said.China is a great potential renewable energy
market for world investors.
Among the 6 billion dollars investment in 2005, most was poured
into small hydropower and solar hot water energy, with 600 million
US dollars for wind power.
China plans to raise its electricity installed capacity for
renewable energy to 10 percent of its total power capacity by 2010
and 20 percent by 2020.
By 2010, renewable energy excluding large hydropower will account
for five percent of China's total primary energy consumption and
the percentage is planned to rise to 10 percent by 2020.
The Chinese government has given much policy support to the
industry of renewable energy.
The law for renewable energy, the first of its kind is China, came
into effect at the beginning of this year.
Speaking at a meeting on energy development on the last month,
Chinese Premier Wen Jiabao called for effective measures to ensure
the implementation of the government's energy saving and renewable
development policies and emphasized that renewable energy is an
important strategic alternative to coal and oil.