It was revealed that China's investment in renewable energy reminiscent of solar and wind power last 12 months exceeded 1 trillion yuan (about 186 trillion won).

Jiang Xing, deputy director and spokesperson of China's National Energy Administration, announced at a press conference on the China Energy Administration in the primary quarter on the twenty fifth that investment in latest and renewable energy in 2023 increased by greater than 34% in comparison with the previous 12 months.

Of the 1 trillion yuan, solar energy generation reached 670 billion yuan (about 125 trillion won), and wind power reached 380 billion yuan (about 71 trillion won).

Specifically, investment in solar energy was accomplished in Yunnan, Hebei, and Xinjiang, with a 100% increase in comparison with the previous 12 months. Onshore wind power projects were concentrated in Liaoning, Gansu, and Xinjiang, while offshore wind power projects were concentrated in Guangdong and Shandong.

Pan Huimin, deputy director of the International Cooperation Department of China's National Energy Administration, said, “By 2023, the world's latest renewable energy capability is anticipated to succeed in 510 million kilowatts (kW), and China will contribute greater than 50% of this.” explained.

China's exports related to latest and renewable energy exceeded $33.4 billion (about 44 trillion won) for wind power and $245.3 billion (about 327 trillion won) for solar energy. He also emphasized that the LCOE (unit cost of apparatus) of power plants has decreased by 60-80% through technological innovation.

Deputy Director Pan Huimin said, “China will actively promote domestic clean energy development and at the identical time contribute to global clean energy development.”

Reporter Lee Yu-seon energy@aiitmes.com