Commodities

Strong growth in RES capacity in China in Q1

Installed renewable energy sources (RES) capacity in China experienced strong growth in the Q1 of this year as part of the country’s efforts to achieve a green transition, the National Energy Administration (NEA) said.

China, as announced by Xinhua, recorded an increase in newly installed renewable energy capacity by 86.5 percent on an annual basis, reaching 47.4 million kilowatts in the first quarter, which accounts for 80.3 percent of the country’s newly installed power generation capacity.

By the end of March, which marks Q1, NEA announced that the installed RES capacity reached about 1.26 billion kilowatts, which is significant growth.

In the first quarter, China’s renewable energy production rose 11.4 percent year-on-year to 594.7 billion kWh, of which wind and photovoltaic power production rose 27.8 percent year-on-year.

Germany called on countries to switch to renewable energy

To end the era of fossil fuels and prevent dangerous global warming, Germany has called on governments worldwide to set themselves an ambitious goal of switching to renewable energy.

Related Post

German Foreign Minister Annalena Baerbock said at the beginning of the two-day climate conference in Berlin that the world must drastically reduce the emission of gases that cause the greenhouse effect to limit global warming to 1.5 degrees Celsius.

The German foreign minister’s proposal is quite different from previous attempts to set a deadline for the gradual phase-out of fossil fuels, which met with strong resistance from countries that export oil and gas, reports Beta.

Instead, Berbock proposed that a special technology is used to collect and store carbon, thus reducing the emission of harmful gases into the atmosphere.

Experts say that such technology is still in the experimental phase and could require huge investments at the expense of cheaper alternatives such as solar and wind energy.

Recent Posts

GBP/USD Hits 1.2560 as US Dollar Weakness Persists

Key Points USD weakness fuels GBP surge; Dovish Federal Reserve Comments Hint at Possible rate cuts, boosting GBP/USD to 1.2560.…

57 mins ago

Oil Futures: 0.5% Rise in Brent, 0.6% in WTI

Key Points: Brent oil futures increased by 0.5% to $83.73/barrel, and WTI up 0.6% to $78.56/barrel. Israeli military action in…

1 hour ago

EUR/USD Adjusts to 1.0760 After Four-Day Rally

Key Points The EUR/USD pair paused its four-day gain, adjusting to 1.0760. Elevated PMI supports the Euro, indicating robust economic…

2 hours ago

AUD/JPY Rate Reaches 102.20 in Asian Markets

Key Points: The AUD/JPY exchange rate stood at 102.20, highlighting key economic interactions between Australia and Japan. The Reserve Bank…

2 hours ago

AUD/JPY Climbs Back to 102.20, Halting Losses

Key Points: AUD/JPY broke below a rising wedge, signalling possible bearish momentum, with immediate resistance at 103.00 and support at…

4 days ago

EUR/JPY Hit 168.25, Boosted by 0.3% Q1 GDP Growth

Key Points EUR/JPY Rises to 168.25: Strengthened by robust Eurozone economy and steady ECB policy. Eurozone GDP Grew by 0.3%…

4 days ago

This website uses cookies.