China Increased Electricity Production by 18% in One Year 0 11

Chinese authorities have published a two-year action plan to accelerate the growth of the energy equipment industry. It includes measures to promote environmentally friendly and intelligent transformations in the energy sector.

According to the Xinhua News Agency, the document was prepared by the Ministry of Industry and Information Technology, as well as the National Energy Administration and the Market Regulation Administration of China. It outlines development goals for the period of 2025-2026. In particular, leading companies in the industry are expected to achieve revenue growth of about 10%. Additionally, an average annual growth of six percent in revenues from the sale of traditional energy equipment is planned.

Key measures listed in the plan include stimulating the development of the equipment industry in the field of wind energy and other renewable energy sources, accelerating the construction of large onshore wind and photovoltaic bases, as well as decommissioning outdated coal-fired power plants.

The plan provides for deepening China's international cooperation with developing countries in the fields of wind energy, solar energy, and energy storage.

The development of green energy in China is gaining momentum. As of the end of July this year, the total installed capacity of the country's power plants reached nearly 367 billion kilowatts. This figure increased by 18.2% year-on-year. The total installed capacity of China's photovoltaic bases increased by 50.8% to 1.1 billion kW. The corresponding figure for wind energy was 570 million kilowatts, with a growth of 22.1%.

Chinese authorities have set a goal to reach peak carbon emissions by 2030 and achieve carbon neutrality 30 years later. This was announced by Chinese President Xi Jinping, who participated in a climate forum organized by the United States.

According to him, China's peak carbon emissions will be reached in 2030, after which they will decline. "China aims to reach peak carbon emissions by 2030 and achieve carbon neutrality by 2060," the Xinhua News Agency reports the words of the Chinese leader.