China: Massive capital for renewable power

China will invest 1.5 trillion yuan (US$187.5 billion) to increase the ratio of renewable energy consumption, said Wu Guihui, vice-director-general of the Bureau of Energy under the National Development and Reform Commission.

Currently, 7.5 per cent of China’s energy comes from renewable sources. The country’s goal is to make it 10 per cent by 2010 and 16 per cent by 2020, revised from its initial goal of 20 per cent.
“Within 10 years, we will see a population of 30 million, in all the remote rural areas, have access to electricity, mainly from renewable energy-powered projects,” Wu told the Great Wall World Renewable Energy Forum & Exhibition on Tuesday in Beijing.

“The shortage of fuel for daily consumption in rural areas will also be solved by that time.”

Furthermore, the country will push the development of the renewable energy industry, introducing advanced foreign technology and further developing technology with proprietary intellectual property rights.

China Daily