Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
Commuters on a country road ride past a wind farm/AFP

World

China to add 1,500 gigawatts of power capacity by 2030

Commuters on a country road ride past a wind farm/AFP

Commuters on a country road ride past a wind farm/AFP

PARIS, Aug 28 – China will add some 1,500 gigawatts of power production capacity by 2030, or the equivalent of Britain’s existing capacity every year, a study showed on Wednesday.

Although the world’s biggest carbon emitter will continue to draw considerable capacity from coal fired plants, about half of the new capacity will be generated from renewable sources, Bloomberg New Energy Finance (BNEF) said in its report.

China, which is also the global No. 1 in electricity production, will in the next two decades invest $3.9 trillion (around 3.0 trillion euros) in new power plants and other electricity producing assets and will add some 38 gigawatts of coal fired generated capacity a year until 2022 corresponding to three large coal plants a month, BNEF said.

After that, it is estimated to grow at a much slower rate, with China expected to install some 10 gigawatts a year until 2030.

“Carbon emissions and local environmental problems resulting from coal, such as poor air quality will likely continue to worsen in the next 10-15 years despite the shift towards cleaner energy sources,” BNEF said.

Thanks to more gas based and renewable power generating sources, however, the share of coal-fired power generation capacity will drop to 44 percent in 2030 from 67 percent in 2012.

The BNEF said that on the back of a cleaner energy shift, China’s power sector emissions could start shrinking as of 2027.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Headlines

NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...