Yahoo Finance China is plowing $11 billion into a solar, wind and coal energy project
The country plans to build 455 gigawatts worth of renewable energy projects in the desert by 2030.
A Chinese state-owned power company is splashing out 80 billion yuan ($11 billion) on an energy base that will generate electricity from solar, wind and coal sources. China Three Gorges Renewables Group, a subsidiary of the country’s largest hydropower company, plans to build a plant with a 16-gigawatt capacity and a five-gigawatt storage facility, Bloomberg reports.
This is part of China’s aim to build 455 gigawatts worth of renewable energy projects in the desert by 2030. This plant is being constructed in Inner Mongolia, which will get 135 gigawatts of the total planned output.
The China Three Gorges Corporation is looking to diversify its energy sources as building large hydro dams is becoming less feasible. According to Three Gorges, wind and solar generation from the plant will depend on grid accessibility. The coal plant is set to start operations in three years.
It’s somewhat disappointing that the new plant will have a coal power element, though it's not fully surprising given the way China has bristled at renewable energy commitments during climate summit talks with other countries. As Bloomberg notes, China has been struggling to put all of its clean energy into the power grid. It often relies on coal when renewable sources like solar and wind aren’t available.
