China May Allocate 30% of Alternative Energy Spending to Wind, 21st Says
China’s government may allocate 30 percent of its alternative-energy spending in the next decade to wind power, 21st Century Business Herald reported, citing an official at the National Energy Administration.
Spending on wind power may reach 1.5 trillion yuan ($224 billion) and solar as much as 300 billion yuan, the newspaper said, citing Liang Zhipeng, head of the administration’s new energy department.
China may spend about 5 trillion yuan through 2020 to develop cleaner sources of energy to reduce carbon emissions, Jiang Bing, head of the NEA’s planning and development department, said in July. The spending plan has been submitted to the State Council, or Cabinet, and may be introduced at the year-end, 21st Century Business Herald said.
Of the total expenditure, as much as 3 trillion yuan will be earmarked for renewable-energy development including wind and solar, while the rest will be allocated to nuclear and hydropower, the newspaper said.
--Chua Baizhen. Editors: Ryan Woo.
To contact the reporter on this story: Baizhen Chua in Beijing at bchua14@bloomberg.net
To contact the editor responsible for this story: Clyde Russell at crussell7@bloomberg.net.
Rate this Page