China Accelerates Construction of Coal and Natural Gas Power Plants

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China Accelerates Construction of Coal and Natural Gas Power Plants

China urgently accelerates construction of coal and natural gas power plants by 2023. Massive investment in clean renewable energy will dominate generation capacity.

Reporting from Bloomberg on Friday (20/1/2023), the China Electricity Council (CEC) said about 70 gigawatts of fossil fuel capacity will be added by 2023, up from 40 gigawatts in 2022.

This target comes as China places greater emphasis on energy security due to electricity shortages and volatile global fuel prices. The CEC Council predicts renewable energy will grow even faster with 100 gigawatts of solar power and 65 gigawatts of wind power expected. However, the CEC Council said by the end of this year clean electricity is expected to account for more than 52 percent of China’s total electricity capacity, up from 49.6 percent at the end of 2022.

The figure was slightly lower than last year’s council forecast that it would be a 50-50 split. Electricity demand is also expected to recover to growth of around 6 percent this year, up from 3.6 percent in 2022, as the economy recovers after the lifting of Covid-19 restrictions.

“The expected increase in consumption means that the power balance will be tight during peak demand periods in many parts of the country,” the CEC Council said.

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