China May Invest over CNY3trn in New Energy in 10Yrs

China’s total investment in renewable energy is expected to top RMB3 trillion (4US$39.11 billion) before 2020, and such an industry with high growth potential will likely be the new profit-making resource, citing the research report of the State Information Center (SIC). In addition, the SIC predicts that total installed capacity of nuclear power, wind power, and solar power will amount up to 80,000MW, 150,000MW and 1,800MW in the following ten years, respectively. The country is advised to provide more preferential policies, such as the financial support, tax and price allowance, as well as cost and risk allocation mechanism, for domestic new energy projects, apart from the investment expansion. Meanwhile, China should further perfect the new energy investment and financing services system, introduce more social capitals into the renewable energy field, establish the special new energy research fund, and pay more attention to the upgrade of traditional energy sectors, suggested the SIC. (July 3, 2009)