Earth Equity News

China to Invest $14.6 Billion in Wind Power by 2010. Bloomberg, June 2, 2009. "China, the world's second-biggest energy consumer, will invest about 100 billion yuan ($14.6 billion) to more than double its wind power capacity by 2010 from last year, a government official said. The country's wind power capacity will rise to 30,000 megawatts from 12,000 megawatts, Shi Lishan, deputy director of renewable energy at the National Energy Administration, said in Rudong city in the eastern province of Jiangsu today. China's wind power capacity was the fourth-largest in the world last year, according to Shi. Investment in alternative energy may exceed 2 trillion yuan by 2020, the National Development and Reform Commission, China's top economic planner, said in 2007. Wind power is 'vital' as it is the cheapest form of renewable energy, Shi said. About 80% of the country's power is produced from coal... China could pass Europe, Japan and the U.S. to become the world's biggest renewable energy consumer by 2010, Washington-based researcher WorldWatch Institute said in November 2007."