China’s government could financially support more than 30GW of solar capacity in 2019 and potentially as much as 50GW.
China’s energy regulator has said that as part of efforts to ease a subsidy payment backlog China will give priority to the construction of wind and solar projects that can operate without subsidies this year, and will cap new subsidised capacity.
Coal power capacity growth dropped for the third year in a row in 2018, but the world’s second largest economy is powering ahead with a plan that puts global climate goals in jeopardy.
SHANGHAI (Reuters) - Chinese regulators are close to releasing new “green bond” standards that would exclude polluting fossil fuel projects from corporate financing channels designed to lift environmental standards, people familiar with the matter told Reuters.
As China the world’s second-largest economy stepped up its fight against smog, its environment minister, Li Ganjie, said China expanded its coal-to-gas and coal-to-electricity projects to 35 cities in 2018 from 12 cities the previous year.
Use of coal increased again in 2018, raising questions about the green energy transition, reports Feng Hao and Tom Baxter
UPDATED FRIDAY FEB 22: In another seeming blow for Australia’s coal industry an official of China’s Dalian Port Group has told Reuters Newsagency that customs at the northern port has banned imports of Australian coal and will cap overall coal imports for 2019 through its harbours at 12 million tonnes.
Fossil fuel major BP has said in a benchmark report that global demand for renewable power will soar at an unprecedented pace over the coming decades, while China’s energy growth is seen sharply decelerating as its economic expansion slows.
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