China’s wind sector ripe for investment as it sets 30GW ambition

23 Jun 2011

The world’s biggest energy consumer China has mapped out its vision to develop 30GW of offshore wind by 2010, signaling further investment opportunities in the country’s renewable energy sector.

Over the next five years, China will boost its offshore wind power capacity to 5GW and increase this dramatically under its 12th Five Year Plan.

According to official newspaper, the People’s Daily, China will launch the preparation work for the second bidding on offshore wind power concessions in the latter half of this year.

Last month, NewNet reported that it has set another ambitious goal of developing a $10bn geothermal industry, further diversifying its clean energy base.

It has been widely reported that China has 12 major geothermal basins with reserves equal to 853 billion tons of standard coal equivalent.

Tags: china, offshore wind, wind