China financing renewable energy

. .. SUSTAINABLE DEVELOPMENT .. .

Information drawn from various sources as indicated

China is playing a major role in financing renewable energy.

According to the UNEP study of Global Trends in Renewable Energy , as of 2015, China has invested $101.9 billion in renewable energy, 36% of the world’s total. The US is a distant second, at $44.1 billion.

china
New investment in renewable energy by country and asset class, 2015, and growth on 2014 – Source: UNEP, Bloomberg new energy finance
(Click on image to enlarge)

Of course, the bulk of their investment is in China itself, but their investment is also noticeable in Latin America.

According to PV Magazine, Argentina is investing US $ 340 million in three solar facilities to generate 100 megawatts each. They are being built by three Chinese enterprises: Power China, Shanghai Electric and Talseun

Also in Argentina, according to Rio Negro, the country is investing US $250 million in wind farms to be supplied by Envision Energy, a Chinese firm.

Meanwhile, in Mexico’s inaugural power auction in April, according to PV Magazine , the Chinese solar power firm JinkoSolar signed long-term power purchase agreements with Mexico’s Federal Electricity Commission for three solar projects due to produce 188 MW by April 2018. According to the Bloomberg Company JinkoSolar is one of the fastest growing companies in the world.

According to Business News Americas, almost all the major solar power module manufacturers are Chinese, while five of the top ten wind blade manufacturers are Chinese – led by Goldwind, the biggest wind turbine supplier in the world. Goldwind has said it is interested in developing manufacturing facilities in Brazil and has also supplied turbines to projects in Ecuador, Panama, Bolivia and Chile.

Looking to the future, according the the UNEP study, China’s R&D spending challenged Europe’s for the first time in 2015, each investing $2.8 billion.. In third place, the US edged up to $1.5 billion. Solar continues to dominate renewable energy R&D, with spending rising to $4.5 billion and equal to that in all the other sectors combined.

Question for this article:

Leave a Reply

Your email address will not be published. Required fields are marked *