ExclusiveHuadian Fuxin dances to Beijing’s tune with a targeted 50pc surge in cleaner energy production by 2020
Hong Kong-listed company is targeting 22 gigawatts of total installed energy generation capacity by the end of that year, up from 15.47GW at the end of last year
The Hong Kong-listed company is targeting 22 gigawatts (GW) of total installed energy generation capacity by the end of that year, up from 15.47GW at the end of last year, chairman Huang Shaoxiong has told South China Morning Post.
“Our ultimate target is to have over 80 per cent of our total capacity powered by cleaner energy sources,” he said. “Wind, gas and solar will be our main expansion focus.”
The ratio stood at 75.8 per cent at the end of June, with 44 per cent from wind farms, 12 per cent hydro plants, 8.2 per cent nuclear units, 6.4 per cent solar farms, 4.9 per cent natural gas-fired projects and 0.3 per cent other energy like biomass. The remaining 24.2 per cent came from coal-fired plants.
Beijing wants coal-fired plants to account for 55 per cent of national generation capacity by 2020, down from 65 per cent in 2015.
Our ultimate target is to have over 80 per cent of our total capacity powered by cleaner energy sources. Wind, gas and solar will be our main expansion focus
The Fujian-based firm has one 0.66GW coal-fired project expected to be commissioned next year, and approval for more new projects will depend on economic growth of the province, Huang said, adding cleaner energy projects will see much faster growth.