Tough problems such as climate change sometimes merit radical solutions. Recently, China successfully converted a flooded coal mining region into the world’s largest floating solar power plant, with 166,000 panels that can power 15,000 homes1. Building on bodies of water, especially man-made lakes that are not ecologically sensitive, solar farms help keep valuable agricultural land and terrestrial ecosystems intact.
Through a spate of projects, China raised its solar generation capacity in 2017 by 54% compared to the year before2. At the same time, China has ordered millions of household and industrial plants in its smog-prone regions to replace their coal-fired heating equipment with natural gas- or electricity-powered systems — showcasing a political will unencumbered by industry lobbies. As such, there is greater certainty that green technology and clean technology will be a major part of China’s economy in time to come.
The development of clean-energy technologies can provide a new impetus to China’s economic growth. Let www.eastspring.com show you the opportunities in China’s equity markets.
2 Renewables Now, dated 19 February 2018, citing statistics from Asia Europe Clean Energy (Solar) Advisory Co Ltd (AECEA)