Government Energy Policy, Business and Technology

China to plow $361 billion into renewable fuel by 2020

Reuters: The investment will create over 13 million jobs in the sector, the National Energy Administration (NEA) said in a blueprint document that lays out its plan to develop the nation's energy sector during the five-year 2016 to 2020 period. The NEA said installed renewable power capacity including wind, hydro, solar and nuclear power will contribute to about half of new electricity generation by 2020. The agency did not disclose more details on where the funds, which equate to about $72 billion each year, would be spent. Still, the investment reflects Beijing's continued focus on curbing the use of fossil fuels, which have fostered the country's economic growth over the past decade, as it ramps up its war on pollution.

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