China to invest $360 bln in renewable power over four years through 2020

China to invest $360 bln in renewable power over four years through 2020

China will invest 2.5 trillion yuan ($361 billion) in renewable power generation between 2016 and 2020, the National Energy Administration (NEA) said on Thursday, as the world’s largest energy market pushes to shift away from coal power.

The investment will create over 13 million jobs in the sector, the NEA said in a blueprint document that lays out its plan to develop the nation’s energy sector in a five-year period.

The NEA repeated its goal to have 580 million tonnes of coal equivalent of renewable energy consumption by 2020, accounting for 15 percent of overall energy consumption. Read More…

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