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Chinese Investment In Renewables ‘Biggest Achievement In The History Of Energy’

Chinese Investment In Renewables ‘Biggest Achievement In The History Of Energy’

From ArabNews. Story by

While global oil investments this year are on track to drop by 20 percent — their biggest decline in history — 40 percent of the new renewable power plants in the world come from China, according to Fatih Birol, head of the International Energy Agency.

China has brought hydropower, solar and wind energy  to 500 million people in 10 years and has huge experience to share with Africa and Asia, Birol told reporters at a G-20 Energy Ministers’ meeting in Istanbul.

“In 2014 the renewable energy investment in China was bigger than the investments in the U.S. plus all European countries all put together,” Birol said. “It is the biggest achievement in the history of energy.”

He urged China to make more investment in energy-hungry Africa.

IEA officials called for world governments to reduce policy uncertainties on renewable energy, saying they are acting like brakes on greater deployment.

“Governments must remove the question marks over renewables if these technologies are to achieve their full potential and put our energy system on a more secure, sustainable path,” Birol said.

Read more at ArabNews.