China increases investment in renewable energy in recent years
China’s installed renewable energy capacity increased from January to July
In the first seven months of 2023, China recorded steady growth in new installed capacity from clean energy sources.
According to the National Energy Administration (NEA), the annual increase in installed solar power capacity was 42.9 per cent, reaching 490 million kW, and wind power capacity was around 390 million kW, representing an annual growth rate of 14.3 per cent.
The country’s installed electricity capacity was around 2.74 billion kW, an increase of 11.5 per cent on the previous year, as reported by
Xinhua News Agency, a partner of TV BRICS.
China has increased investment in renewable energy in recent years as part of its quest for green development.
In the first seven months, total investment in solar energy by China’s largest power companies rose 108.7 per cent year-on-year to 161.2 billion yuan (US$22.39 billion), according to the survey.