New investments will contribute to about half
of new electricity generation by 2020.
China plans $361bn green energy spend
BEIJING, 11 days ago
China will invest $361 billion into renewable power generation by 2020 in a shift from coal to cleaner fuels, state-run National Energy Administration (NEA) said on Thursday.
The investment will create over 13 million jobs in the sector, according to a blueprint document released by NEA, a Reuters report said.
The NEA said installed renewable power capacity including wind, hydro, solar and nuclear power will contribute to about half of new electricity generation by 2020.
Some 700 billion yuan will go towards wind farms, 500 billion to hydro power with tidal and geothermal getting the rest, the National Development and Reform Commission (NDRC) said.