Xi reveals major renewable energy projects at COP15

[superadmin]

Chinese President Xi Jinping on Tuesday revealed major wind power and photovoltaic bases in sandy areas, rocky areas and deserts, saying that the first phase of projects with an installed capacity of approximately 100 million kilowatts has recently started construction, according to the Xinhua News Agency. 

Xi made the remarks while addressing the leaders' summit of the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity via video link in Beijing. The President said that China will continue to readjust its industrial structure and energy mix and vigorously develop renewable energy, according to Xinhua.

The scale of the projects revealed on Tuesday is enormous in comparison with projects in other countries. The first phrase of 100 gigawatts of wind and solar is bigger than all of the wind and solar power in India, according to Bloomberg.

The revelation of the mega renewable energy projects instantly boosted market sentiment. On Tuesday, shares of major solar firms, including Trina and Sungrow, rose from their daily lows, outperforming a fall of 1.25 percent in the benchmark Shanghai Composite Index.


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