China’s total installed power generation capacity reached 3.19 billion kilowatts at the end of October, marking a significant increase of 14.5 percent compared to the previous year, according to data released by the National Energy Administration on Friday.
The surge is largely driven by rapid expansion in renewable energy sectors. Solar power capacity experienced an impressive 48 percent growth, reaching approximately 790 million kilowatts. Wind power capacity also saw substantial growth, rising 20.3 percent to about 490 million kilowatts.
From January to October, major power companies invested 718.1 billion yuan (about $99 billion) in power supply projects, an 8.3 percent increase year on year. Investment in power grid projects witnessed an even more significant rise of 20.7 percent, totaling 450.2 billion yuan.
China’s renewable energy expansion continues to set new records. In the first three quarters of 2024, over 200 million kilowatts of new renewable energy capacity was installed, accounting for more than 80 percent of the country’s total new installed capacity.
The country has established the world’s most systematic and comprehensive carbon emission reduction policy framework, achieving significant results in its energy transition. Notably, the total installed capacity of wind and solar power has reached China’s internationally committed targets more than six years ahead of schedule.
This significant growth not only underscores China’s commitment to renewable energy and environmental sustainability but also highlights its leading role in global efforts to combat climate change.
Reference(s):
cgtn.com
