China to add 5GW of renewable energy capacity by end of 2017

China to add 5GW of renewable energy capacity by end of 2017

China’s State Power Investment Corporation (SPIC) is aiming to increase its renewable energy installation capacity for this year by 5GW, in another boost to the nation’s thriving renewables sector.

The state-owned electricity producer is also gradually moving away from coal-fired energy sources, closing down 10 enterprises while revamping nine other loss-making coal assets.

SPIC generated 193.6TWh of electricity during the first half of 2017, making it one of the top five power generation groups in China.

It currently has a total installed capacity of 117GW, of which 21.6GW is hydropower, while solar and wind represent 7.1GW and 12GW respectively.

According to a recent global energy report by BP, the Asia-Pacific region surpassed Europe and Eurasia as the largest producer of renewable power in 2016, with China contributing to over 40% of global growth.

In the process, China overtook the US as the world’s largest singular producer of renewable energy, while also heavily contributing to a 61% fall in global coal production last year.

@RGNonline