China’s Q1 clean energy investments hit $16.5b in Q1

By Aya El Sayed On May 26, 2024

Aerial view of the construction site of Jiangxia Tidal Power Station, the world's fourth largest tidal power station which also hosts a solar PV power installation, on April 21, 2022 in Wenling, Taizhou City, Zhejiang Province of China. Liu Zhenqing/VCG via Getty Images

China’s power sector ramps up green investment, with completed investments in clean energy projects rising by 6.64 per cent year-on-year to CN¥117.3 billion ($16.5 billion) in Q1, as reported by the China Electricity Council, cited by WAM on Sunday.

Construction of clean energy projects surged by 30.97 per cent year-on-year, reaching 512.05 GW in Q1, according to China Central Television.

State Power Investment Corporation initiates construction of over 200 energy projects in April, with clean energy projects constituting over 90 per cent.

Additionally, China’s power enterprises enhance Environmental, social, and governance (ESG) management, with nearly 90 per cent issuing ESG-related reports.

According to a council report, service innovation, ecological protection, rural revitalisation, and Belt and Road Initiative participation are now integral social responsibilities for power companies, stated Hao Yingjie, Secretary-General of the Council.