China tripled its investments in solar energy projects during January-April, Bloomberg reported.
Thanks to this, the Asian giant managed to establish a record number of new capacities for the production of clean energy.
During the first four months of this year, investments in “green energy” amounted to 29 billion yuan (about $4.3 billion).
This is 204% more than in January-April 2021. In the first 11 months of last year, China has invested 51.3 billion yuan in solar energy.
Beijing is rapidly ramping up investment in the country’s solar and wind projects, with plans to build a large and flexible grid to reduce carbon emissions by 2030, planning to completely stop emissions by 2060.
For the entire planned time, coal as a source of energy will retain a central role in China’s energy balance: plans have been expanded to adapt power plants using this fuel as a reserve for renewable energy sources, Bloomberg added.