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China 2018 Thermal Power Investment Lowest Since 2004 – CEC

Power News - Published on Wed, 19 Jun 2019

Image Source: Reuters
China's total investment in thermal power construction last year fell to its lowest level since 2004, according to data from an official industry group, as the country tried to restrict investment in polluting projects. The China Electricity Council which represents power generators, plant builders and equipment manufacturers, said investment in new thermal power plants reached 78.6 billion yuan (USD 11.35 billion) in 2018, down 8.3% on the year and amounting to 28% of total spending in the sector.

CEC said in a report published that of the total, coal-fired capacity investment stood at CNY 6.44 billion, down 8.8% on the year. Total power investment fell 3.9% on the year to CNY 278.7 billion. Spending on hydropower construction rose 12.7% to 70 billion yuan, while nuclear investment inched down 1.6% to 44.7 billion yuan.

However, policies aimed at curbing overcapacity and tackling a subsidy payment shortfall meant that solar power investment plummeted 27.4% to CNY 20.7 billion in 2018, while wind power also dropped 5.2% to CNY 64.6 billion.

China has vowed to reduce its dependence on polluting fossil fuels, and it aims to bring the share of coal in its overall energy mix to 58% by next year, down from 68.5% in 2012.

Source :

Posted By : Ratan Singh on Wed, 19 Jun 2019
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