China’s greening attracting more investment

China is stepping up its clean energy drive, both through a reduction of its own emissions and by becoming the biggest supplier of some clean-energy equipment in the world. Picture (courtesy China Daily) shows cooling towers being demolished with explosives amid efforts to reduce emissions in Zoucheng, East China’s Shandong province, last week.

China is estimated to have spent US$34.6 billion on clean-energy projects during 2009, compared with about $18 billion by the US. In terms of available investment projects, the main areas of private development are wind, solar and biofuel. Hydro power will pass 190,00 mega watts of power this year, enough for about 15 per cent of electricity consumption.
This year, China became the world’s largest producer of wind turbines. About 15 companies produce turbines both for the domestic market and export. There are also several specialist parts makers.
With solar power, China produces about 30 per cent of the world’s photovoltaics. The six largest Chinese producers have a combined market capitalisation of more tha US15 billion. With biofuels, China is the third largest producer in the world, after Brazil and the US. Ethonol currently accounts for about 20 per cent of auto fuel consumption in China.