27 Jan 2010 11:18

China may lift renewable energy development targets

Shanghai. January 27. INTERFAX-CHINA - China may release a new renewable energy policy after the Chinese New Year holiday in mid-February that is expected to lift government development targets for solar and wind power, among others, state media reported on Jan. 27.

According to China Securities Journal, the policy will undergo significant changes because Chinese planners have come to a new understanding about the importance of renewable energy development following the Copenhagen conference and due to the industry's runaway growth in 2009.

Industry experts said at various forums last year that the country will set targets to increase the country's wind power installed capacity to 150 gigawatts (GW) and its solar power installed capacity to 20 GW by 2020.

Li Junfeng, deputy director of the National Development and Reform Commission's (NDRC) Energy Research Institute, said at a recent industry forum that the government may raise its solar power target to as high as 30 GW.

China has set a target to meet 15 percent of its energy demand with renewable energy sources by 2020, up from the current 8.3 percent.