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UNEP: Clean Energy Investment Grows in China

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

The newly released UNEP report, Global Trends in Substantial Energy Investment 2008, shows that China's sustainable energy investment increased by 91 percent in 2007 to a record high US$10.8 billion, 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 US$148.4 billion on a global scale, up 60 percent 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 tons and save 50 thousand tons of coal each year.

(Xinhua News Agency July 21, 2008)

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