China Energy achieves green milestone

2024-01-12 09:52:56China Daily Editor : Li Yan ECNS App Download

A view of a solar power facility in Tongchuan, Shaanxi province, in August. (YUAN JINGZHI/FOR CHINA DAILY)

China Energy Investment Corp, the world's largest coal miner, achieved a record in installed renewable energy projects last year, as the company accelerated its green energy transition while ensuring domestic energy security.

Power generation capacity last year reached 320 million kilowatts, with renewable energy accounting for 110 million kW, representing 35.5 percent of the total, said company spokesman Huang Qing during a news conference in Beijing on Thursday.

Its annual coal production reached 620 million metric tons last year, with coal sales reaching 830 million tons, contributing to about one-sixth of the national total and ensuring stable domestic energy supply, he said.

The company, also known as China Energy, has been accelerating the construction of wind and solar power facilities nationwide, while pushing forward the clean utilization of coal, he said.

Installed capacity of renewable energy projects that were put into operation by the company last year reached 26.16 million kW, further solidifying its position as a global leader.

Wind power installations surged to 60 million kW, maintaining the world's top spot, while photovoltaic installations exceeded 35 million kW last year, Huang said.

Traditional energy giants are increasingly veering toward an energy transition, marking a significant shift in operations by steadily increasing the percentage of clean energy installed capacity, said Luo Zuoxian, head of intelligence and research at the Sinopec Economics and Development Research Institute.

Leading traditional energy companies are strategically pivoting toward cleaner and more sustainable energy sources. This shift is evident in their increased investments in renewable energy projects, including wind, solar and hydropower, Luo said.

"The trajectory of traditional energy giants transitioning toward cleaner energy is likely to persist and intensify, buoyed by advanced technology, evolving consumer preferences, and global commitments to carbon reduction," he said.

Companies that successfully navigate this transition are positioned not only for sustainability but also for long-term competitiveness in the evolving energy landscape, he added.

According to Huang, the company has also been ramping up research and application of a combination of coal and renewable energy, as well as the integration of clean coal power and carbon capture, utilization and storage, to facilitate the country's goals to achieve deep cuts in emissions.

China Energy started operations at Asia's largest coal-linked carbon capture, utilization and storage facility in Jiangsu province last year, which will capture 500,000 tons of carbon dioxide each year.

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