“China is responding to climate change on many fronts... [and] its efforts in developing green energy are noteworthy”, according to delegates attending the UN climate change conference in Cancun.
The World Bank reports that China is making progress in meeting targets to generate 15 per cent of its electricity from non-fossil fuels by 2020, though it needs to improve and expand hydro generation and deal with inefficiency in its wind-power sector.
India’s Tata Power will invest around Rupees 50bn ($1.1 bn) in wind energy over the next seven years as it prepares to generate at least a quarter of its total power generation from clean sources by 2017.
India-based Mahindra Group is reportedly making plans to move into the solar energy generation business, according to an industry source. It is also looking for a partner in order to bring in domain expertise as well as extra funding for the venture.
Chinese power generation grew 14.9 per cent year-on-year to 3421.6 TWh in the first 10 months of 2010, including 563 TWh from hydropower, 2737.7 TWh from thermal power and 59.7 TWh from nuclear power.
India’s Reliance Power has agreed a $2.2 bn deal with General Electric after securing a $5bn loan from the US Export-Import bank for buying US goods and services over the next three years.
Mitsui & Co. will participate in the solar power generation business in Spain by purchasing a 30 per cent stake in local solar power company Guzman Energia SL.
A study by A.T. Kearney Inc. shows electricity from solar panels in Germany may be as cheap as power from new gas and coal plants within as little as five to eight years.
Turkish company Ateşçelik, which produces a number of devices for power plants and other industrial equipment, is investing 30 million Turkish Liras in the production of wind turbine towers inthe western province of İzmir.
The government of Abu Dhabi is scaling back its plans for an ambitious clean energy city as part of a wide-ranging review of the $22 billion project.