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China to Launch Multi-Billion Dollar Renewable Energy Program
Photograph: Bob Sacha/Corbis
China recently announced that it is planning to reduce its carbon intensity by 40-45% (from 2005 levels) and generate 15% of its electricity from renewables by 2020. According to Zhang Guobao, head of the National Energy Administration, the country will be launching a multi-billion dollar program investing in wind, solar and nuclear power some time in the near future.
The new development is in following with the pledge that Premier Wen Jiabao made at the Copenhagen climate change summit back in December to reduce its emissions and ramp up renewable energy infrastructure. While Zhang told newspaper China Daily that the program will go public soon, he did not specify a date.
“Power projects take a long time to get up and running, and we are basically allowed five years to complete them although it is a 10-year programme,” Zhang told China Daily. “Otherwise, the facilities cannot be put into use by 2020.”
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