Caixin
May 13, 2020 06:23 PM
BUSINESS & TECH

Installation of New Wind and Solar Power Plants Plunges During Outbreak

What’s new: China’s newly installed wind power capacity in the first quarter halved from the same period in 2019 to 2.36 million kilowatts. Meanwhile, installation of solar power plants suffered a 24% year-on-year drop in capacity to 3.95 million kilowatts, data from the National Energy Administration showed on Monday.

Power generation by the two sources of renewable energy, however, showed upticks in the first three months of the year. Wind power generation rose 10.4% year-on-year to 114.9 billion kilowatt-hours, while solar power output rose 20% year-on-year to 52.8 billion kilowatt-hours.

What’s the background: The drop in renewable energy installed capacity has been attributed to the suspension of work caused by the coronavirus outbreak, according to Peng Peng, the general secretary of a renewable energy investment alliance. Peng also said he expects a surge in installations in the second quarter of 2020.

Despite the drop in newly installed renewable power plant capacity, investment in power plants in the first quarter grew 30.9% year-on-year to 59.6 billion yuan, led by a 185.9% spike in wind power investment.

Quick Takes are condensed versions of China-related stories for fast news you can use.To read the full Caixin article in Chinese, click here.

Contact reporter Lu Yutong (yutonglu@caixin.com) and editor Marcus Ryder (marcusryder@caixin.com)

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