The latest report released by the Institute of Energy Economics and Financial Analysis recently pointed out that China is still the leading force in building and financing clean energy technologies in the world in 2017. The report said that China is preparing to lead the new energy world.
The report shows that the number of large-scale overseas clean energy projects (projects valued at not less than $ 1 billion) invested by Chinese enterprises in 2017 far exceeds that of last year, and the large-scale projects invested by Chinese enterprises in the year totaled more than 44 billion U.S. dollars, up from 32 billion in 2016 USD, a new high.
2016 is a record year for overseas overseas low-carbon investment. In 2017, the overseas clean energy investment has increased by 38% over 2016.
Tim Buckley, director of the Institute for Energy and Finance at IEEFA, said one of the report's authors, "The decision of the United States to introduce the" Paris Agreement "runs counter to China's options as it is to further emphasize the importance of coal and alienate renewable energy sources.
Foreign clean energy investment increased by 38%
The report shows that large-scale overseas clean energy projects invested by Chinese enterprises in 2017, valued at no less than 1 billion U.S. dollars, far surpassed last year. The total amount of large-scale projects invested by Chinese enterprises in the year exceeded 44.3 billion U.S. dollars, surpassing 32 billion in 2016 USD, a new high.
In 2016, China's overseas clean energy investment record has been the highest over the years, and the overseas clean energy investment in 2017 has also increased by 38% over 2016. This shows that China's clean energy investment is proactive.
In addition to the project, China also has overall lead in equipment manufacturing, with Chinese-funded solar manufacturers contributing 60% of the world's solar cell production and the leading position of China's solar power industry being consolidated.
Chinese companies are making rapid progress on various indicators related to clean energy, including hydropower and energy storage battery materials, etc. Major wind energy companies in China, including the world's largest wind energy developer, continued to expand overseas in 2017. In 2017, A syndicate led consortium bought a 30% stake in an offshore wind farm in the UK, and the other company, China Three Gorges, also has a significant share of Portugal's largest wind power development.
Large Chinese hydropower companies continue to participate in major global water projects through mergers or acquisitions, while Latin America, Africa and Asia are still the focus of Chinese hydropower companies, which make up a major share of China's overseas clean energy investment.
State Grid Corporation leads the country's continued investment in international power networks, with UHV transmission lines being built in Pakistan and Egypt.
2017 China's major investment projects in the fields of renewable energy, new energy and power grids
China's clean energy in the end
Chinese-funded enterprises overseas investment in clean energy also extends to the upstream areas of minerals, materials, the report said Chinese-funded enterprises dominate the world cobalt market, China's cobalt mine is expected to provide 62% of global production in 2017.
Chinese electric carmakers are rapidly boosting domestic capacity and are poised to enter the international market, with Chinese producers such as BYD hoping to sell more in the international market than the domestic market in the future.
China's financial institutions are also innovating in services to help energy companies go global and invest overseas. "The clean energy market is in rapid growth with China being built as a global technology leader while the U.S. government is moving toward another Look, "Buckley said.
On the other hand, the United States formally announced its withdrawal from the Paris Agreement in August 2017 and reiterated its attitude toward traditional fossil fuels, Buckley commented that although China may not be prepared to fill the climate caused by the U.S. withdrawal of the Paris Agreement Leadership is empty, but China is willing to provide technological leadership and financial backing to dominate the rapidly growing industries such as solar, electric vehicles and batteries.
'It is clear that renewable energy will become the dominant energy technology over the next few decades.Even the more cautious International Energy Agency (IEA) admits that renewable energy will get bigger in the energy sector Part of the investment, 'said Buckley.
At the same time, coal is still the dominant energy source in China, with the proportion gradually declining.China's 13th Five-Year Plan has taken measures to limit coal-fired power generation, but the coal, coal chemical industry and coal mining industries are still under moderate development .
China's installed capacity of clean energy such as optoelectronics, hydropower and photovoltaic power generation is already a global leader, and the installed capacity of photovoltaic power has also risen sharply in 2017. Clean energy is a trend advocated by the government and favored by the government.
