Shanghai (Business Emerge), July 25: Shanghai’s bold move towards renewable energy, including a massive 29 GW offshore wind capacity project, marks a significant stride in aligning with China’s national climate targets. This initiative is part of a larger strategy to ensure a steady energy supply until long-term storage solutions become feasible.
In an effort to provide consistent energy, the local government also plans to develop coal-fired power plants. Additionally, Shanghai aims to transmit over 40 TWh/year of electricity from the Kubuqi Desert in Inner Mongolia, with at least half of this electricity sourced from clean energy.
China has consistently increased its offshore wind capacity, averaging 7.8 GW/year since 2020 and reaching a peak of 17.4 GW in 2021. According to the “14th Five-Year Plan”, China is set to derive 20% of its total energy consumption from non-fossil fuels by 2025, up from 11% in 2023. With 37.3 GW of offshore wind capacity as of 2023, China has surpassed the United Kingdom, becoming the global leader in this sector. The country also has the world’s largest coal fleet, totaling 1,253 GW at the end of 2023, accounting for 43% of its energy mix.