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China has ordered industrial giants to switch to renewable energy

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China is setting green energy targets for more industrial sectors, Bloomberg reports. According to the announcement by the National Development and Reform Commission, steel, cement and polysilicon producers will be required to use green energy to meet between 25% and 70%

China has ordered industrial giants to switch to renewable energy

China is setting green energy targets for more industrial sectors, Bloomberg reports.

According to the announcement by the National Development and Reform Commission, steel, cement and polysilicon producers will be required to use green energy to meet between 25% and 70% of their demand in 2025 and 2026. The 2024 message, for example, set targets only for the electrolytic aluminum sector – it is included in the latest recommendation.

Thus, the country is striving to increase its consumption of renewable energy as solar and wind generation grow.

According to the new targets, with the exception of hydropower, provinces will also have to achieve from 10.7% to 30% of renewable energy consumption by 2025 and from 12.4% to 30% by 2026, depending on their location.

The Chinese renewable energy sector saw an increase in the number of installations in the first half of this year, partly due to expected policy changes that could hinder profitability. The mood in the solar energy sector, which is struggling with excess capacity, is heightened by speculation about potential government support and other measures.

It should be noted that by the end of May, the installed capacity of China's renewable energy reached 2.09 billion kW, which is more than double the figure for the completion of the 13th five-year plan (2016-2020), said Zhou Haibing, Deputy Chairman of the National Development and Reform Commission.

According to him, currently every third kWh of electricity consumed in the country comes from green energy sources.

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