China Bailing on Overseas Coal Should Be a Boon for Renewables
- Overseas fossil fuel investments were at $12.8 billion a year
- Exports of wind, solar, hydro and nuclear power primed to rise
Photovoltaic modules at a solar power plant near Golmud, Qinghai province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
If China puts the same financial heft behind green energy in emerging nations as it has in developing fossil fuels projects overseas, it’ll be a step change for global investment in renewables.
President Xi Jinping told the United Nations General Assembly this week that China will accelerate support to developing nations to install low-carbon energy sources as the nation also halts the building of new coal power overseas.