China Huadian Corporation, the third largest power producer by capacity, plans to phase out more than 3 GW of coal-fired power capacity in the next five years and scale up renewables to 50% of its power generation mix, Reuters reported, citing the company's chairman on March 8.
Huadian aims to add 75 GW renewable power capacity during 2021-25 and peak its carbon emissions by 2025, Wen Shugang, the chairman of Huadian Group, told Reuters.
With an action plan being drafted, the state-owned power generator will step up renewable development in the next five years, Wen said.
Huadian aims to raise non-fossil fuel to 50% of total power generation capacity by 2025, and non-coal to 60%, Wen said.
By end-2019, Huadian had total installed capacity of 153 GW, in which coal and gas combined reached 108 GW.
Chinese President Xi Jinping pledged in September last year that China will peak its carbon emissions before 2030 and reach carbon neutrality by 2060.
In December, President Xi was committed to reducing the country's carbon dioxide emissions by at least 65% by 2030 compared with 2005, scaling up the proportion of non-fossil fuel in the primary energy mix to 25%, and installing capacity of wind and solar power to above 1,200 GW.
China aggressively added 71.7GW of wind power capacity and 48.2GW of solar in 2020, surging 178% and 60% year on year, respectively. By end-2020, China's renewable installed capacity totaled 934 GW, including 370 GW of hydropower, 281 GW of wind, 253 GW of solar and 29.52 GW of biomass, according to the National Energy Administration.
(Writing by Alex Guo Editing by Harry Huo)
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