China experiences a notable surge in power generation capacity, marking a substantial increase of 12.6 percent

21 Nov, 2023

China experiences a notable surge in power generation capacity, marking a substantial increase of 12.6 percent

China's cumulative installed power generation capacity witnessed a substantial year-on-year increase of 12.6%, reaching approximately 2.81 billion kilowatts by the end of October, as reported by China's National Energy Administration (NEA) on Monday.

According to the NEA, the installed capacity of solar power generation experienced remarkable growth, surging by 47% year-on-year to reach 540 million kilowatts. Additionally, the capacity of wind power saw a notable increase of 15.6% year-on-year, reaching 400 million kilowatts.

Major power generation companies in China invested a total of 662.1 billion yuan ($92.32 billion) in power supply projects during the first ten months of this year, reflecting a substantial 43.7% increase compared to the same period in the previous year, according to the NEA.

Breaking down the investments, the NEA highlighted that investments in solar power generation accounted for 269.4 billion yuan, marking a significant 71.2% year-on-year increase. Following closely, investments in wind power rose by 42.5% year-on-year, reaching 171.7 billion yuan ($23.94 billion), as reported by the administration. These figures underscore China's continued commitment to expanding its renewable energy capacity and investing in clean energy projects.