China to Spend $5.8 Billion to Triple Wind-Power Generation - 1/12/07

China, one of the world's biggest energy consumer after the U.S., plans to invest $5.8 billion to more than triple wind-power generation capacity by 2010.

The government raised its goal capacity to 8,000 megawatts by 2010 from 5,000, Li Junfeng, secretary-general of the Chinese Renewable Energy Industries Association, said today. China added 80 percent in wind-power generation capacity last year to 2,300 megawatts from 1,300 megawatts, the National Development and Reform Commission said Jan. 5.

"The government's preferential policies and companies' willingness will enable us to exceed the original target," Li told reporters in Beijing.

China plans to spend 1.5 trillion yuan in the next 15 years to increase the use of renewable resources and cut the world's fourth-largest economy's reliance on coal and oil. The country will subsidize biomass projects, especially those in ethanol and bio-diesel, the Ministry of Finance said on Nov. 10.

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