Green energy investment on the rise in H1 2023

Investment in non-fossil energy rose 60.9 percent year-on-year during the first half of 2023, accounting for 88.6 percent of total power investment in the country, the China Electricity Council said during a news conference held in Beijing on Tuesday.

The trend of green and low-carbon transformation is expected to continue accelerating as the country vows to achieve peak carbon emissions by 2030 and carbon neutrality by 2060, according to the council, a national trade association of China's power enterprises and institutions.

Key surveyed enterprises completed investment of 331.9 billion yuan ($46.47 billion) in the power sector during the first six months of the year, an increase of 53.8 percent year-on-year, with that of non-fossil energy power generation reaching 294 billion yuan, up 60.9 percent year-on-year.

Investment in solar, nuclear, wind, thermal and hydropower increased by 113.6, 56.1, 34.3, 13.0 and 10.6 percent respectively year-on-year. Investment in power grid construction rose to 205.4 billion yuan, up 7.8 percent year-on-year.