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Tuesday, 22 July 2008

UN Report Says Clean Energy Investment Grows in China

Wind power plants are attracting increasing investment in China, according to statistics from the United Nations Environment Programme(UNEP).

The newly released UNEP report, Global Trends in Substantial Energy Investment 2008, shows that China's sustainable energy investment increased by 91 per cent in 2007 to a record high 10.8 billion US dollars, most of which has flowed to wind power generating units.

The heavy investment enabled China's wind capacity to double to 6 GW last year.

Meanwhile, new investment in sustainable energy surpassed 148.4 billion US dollars on a global scale, up 60 per cent year on year. Funds in the wind power sector became the biggest contributor to the surge.

"At present, wind and solar power have already stood as the hottest spots for renewable energy investment. Alternatives like hydropower and nuclear energy are also coming into the field," said Zhang Shigang, representative of UNEP China office.

Beijing has taken quick action to catch up with the new global trend in clean energy development. Guanting wind power plant, in suburban Beijing, began full operation here on Saturday, supplying wind generated electricity into China's capital for the first time.

With the last 10 wind power generating units officially certificated by Beijing Electric Power Company, the plant has now installed 43 domestically developed wind power units, with a capacity of 64.5 thousand kW.

The plant is expected to supply 100 million-kWh electricity per year, or 300,000 kWh per day, to meet the daily demand of 100,000 households.

Officials with Guanting called the wind power plant a key project for the success of Green Olympics. Statistics from Guanting shows that the power plant could help cut yearly emission of carbon dioxide by 100 thousand tonnes and save 50 thousand tonnes of coal each year.

Originally published by Xinhua news agency, Beijing, in English 1347 19 Jul 08.

(c) 2008 BBC Monitoring Asia Pacific. Provided by ProQuest Information and Learning. All rights Reserved.

Thanks: ECN

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