(Bloomberg) — China announced a third round of solar and wind energy projects that’ll form part of President Xi Jinping’s vision of boosting the world’s largest renewable power fleet with vast developments across inland deserts and other unpopulated areas.
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A 850-megawatt solar power project near the coast in Binzhou, Shandong, is among the new developments, and is scheduled to begin generating clean electricity next year, according to a local media report.
The next batch of installations will include locations in former oil and gas fields or coal mining areas, adding to sites already under construction in areas like Inner Mongolia, industry outlets reported previously.
Read more: China Offers More Detail on Xi’s Desert Clean Power Mega-Hub
China aims to build about 455 gigawatts of wind and solar power largely in deserted areas, and researchers previously forecast that almost half will be installed before 2025. Authorities said in November that construction is underway on the initial group of projects, while preparations and planning are being carried out for the second batch.
The nation added a record 87.4 gigawatts of solar power in 2022, and is set to install as much as 120 gigawatts more this year, in part as a result of the push to deliver desert projects. Solar topped hydro at the end of last month to become the country’s largest source of renewable power capacity.
The Week’s Diary
Wednesday, April 26
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Shanghai auto show, runs through April 27
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CCTD’s weekly online briefing on China coal, 15:00
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SMM Intl Copper Summit in Yantai, Shandong, day 3
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EARNINGS: Anhui Conch, HKEX, Yunnan Energy, Xinjiang Goldwind
Thursday, April 27
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Shanghai auto show concludes
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China industrial profits for March, 09:30
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EARNINGS: Angang Steel, Baosteel, BYD Co., China Coal, China Oilfield Services, Cnooc, Ganfeng Lithium, Gotion High-Tech, Hesteel, Huayou Cobalt, Longi Green, Maanshan Steel, Metallurgical Corp. of China, Sinopec, Shandong Steel, Tongling Metals, Zijin Mining
Friday, April 28
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China weekly iron ore port stockpiles
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Shanghai exchange weekly commodities inventory, ~15:30
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EARNINGS: China Shenhua, China Three Gorges, China Yangtze Power, Cosco Energy, Cosco Holdings, Jinko Solar, Ming Yang Smart Energy, PetroChina, Tianqi Lithium, Trina Solar
Saturday, April 29
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Nothing major scheduled
Sunday, April 30
On the Wire
Shares of iron ore miners and steelmakers fell as iron ore traded below $100 a ton for the first time since early December, highlighting a frail recovery for China’s commodities demand even during what’s meant to be the busiest construction period of the year.
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