China In Global New Energy Pact

IRENA expands renewable energy cooperation with the Chinese government

July 5, 2021 (Power Engineering International)

“…[T]o accelerate the deployment of renewable energy to mitigate climate change, the Chinese government has extended its cooperation with the International Renewable Energy Agency (IRENA)…China has pledged to peak emissions before 2030 and achieve carbon neutrality before 2060…

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…[The agreement will] promote the implementation of the country’s climate actions…[Exchange knowledge] on renewable energy development, market trends and policy development…Strengthen co-operation on the promotion of climate finance and investment…[and] technology innovation…IRENA is expected to learn best practices for renewable energy market deployment from China…

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In 2020, China deployed the most capacity compared to any other country, accounting for a 40% share of the global market…China accounts for close to a third of globally installed renewables capacity owing to low power costs, mature supply chains and good quality renewable resources…IRENA estimates that renewables have the potential of supplying over 90% of China’s electricity needs by 2050 with more than 60% coming from solar and wind…” click here for more

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