Clean Energy

China to Plow $361 Billion into Renewable Fuel by 2020

China will invest 2.5 trillion yuan ($361 billion) into renewable energy generation by 2020, a move that will create more than 13 million jobs, Reuters reports.

China, the world’s largest energy market, will invest 2.5 trillion yuan ($361 billion) into renewable energy by 2020, the country’s National Energy Administration (NEA) announced Thursday. As Josephine Mason reports forĀ Reuters, the investment will create more than 13 million jobs in the sector as the country moves away from coal power towards cleaner forms of energy.

The NEA said installed renewable power capacity like solar, hydropower, wind, and nuclear will contribute about half of all new electricity generation by 2020. As Mason writes, “the investment reflects Beijing’s continued focus on curbing the use of fossil fuels, which have fostered the country’s economic growth over the past decade, as it ramps up its war on pollution.”

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