China expected to invest $940bn in energy this year
China is expected to spend $940 billion on energy this year, with investment increasingly focused on electricity grids and infrastructure for renewable power, according to figures reported by state broadcaster CCTV.
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China is expected to invest $940 billion in energy this year, more than any other country, according to a report cited by state broadcaster CCTV. Much of the spending is directed towards expanding electricity grids and other infrastructure to accommodate growth in renewable power.
The International Energy Agency expects China’s investment in electricity grids to reach about $140 billion in 2026. The figures were reported by CCTV, citing a report from a Chinese organisation focused on economic development.
Renewables account for nearly 40% of China’s electricity generation, the report says. Coal’s share fell to 49.7% in the first half of the year, the first time it was below half, according to the report.
CCTV also says China supplied 70% of the world’s wind-power equipment and 80% of its solar-panel equipment.
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