Business
        

Green China

China leading in green energy investment

Updated: 2011-07-06 10:34

(Xinhua)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

BERLIN--China has become one of the largest investors in renewable energy projects, according to a report released Tuesday in Frankfurt.

The report is based on a study jointly conducted by the Frankfurt School of Finance and Management, the United Nations Environment Program (UNEP) and Bloomberg New Energy Finance.

Related readings:
China leading in green energy investment Commerce chief to make clean energy a priority
China leading in green energy investment China still leading clean energy investment
China leading in green energy investment Clean energy certification proposed
China leading in green energy investment Clean energy road to future

This is the firt time that developing countries surpapssed the developed counterparts in the value of major "green" projects in 2010,the report "Global Trends in Renewable Energy Investment 2011" said.

Renewable energy industry showed a boom last year, with a record $211 billion worldwide flowing into the sector, 30 percent higher on a year-to-year basis, according to the report.

In 2010, China invested a total of $48.9 billion in green energy and technology research, particularly for wind farms.

The report said wind energy projects are attracting the largest investment worldwide, with the volume jumping 30 percent to $94.7 billion last year. Solar energy bagged $86 billion while energy production from biomass and waste took the third place with $11 billion investments.

The study also indicated that for the first time in history, developing countries as a whole has exceeded industrialized nations in major renewable energy projects.

Some $72 billion were used for green energy in developing countries' private sectors, compared with $70 billion in the developed bloc.

In 2010, Europe's investments in large-scale projects even fell 22 percent to $35.2 billion.

E-paper

The perfect cut 

Companies need to revamp, standardize to stave off quality challenges

Going the distance
The great lake
Mixed Results

European Edition

Specials

My China story

Foreign readers are invited to share your China stories.

90th anniversary of the CPC

The Party has been leading the country and people to prosperity.

Setting the pace in Turkey

China is building a 158-km high-speed railway in Turkey.

Vice-President visits Italy
Sky is the limit
Quest for green growth