China's Envision Energy Says 'Easy' to Triple Renewables

Wednesday, December 6, 2023

Chinese wind turbine maker Envision Energy believes "it's easy" to meet an international pledge made at the COP28 climate summit to triple renewables by 2030.

"This is not visionary," Envision CEO Lei Zhang told Reuters on the sidelines of the summit in Dubai.

"If you look at the wind and solar growth rate in the past, you see triple is not difficult because all renewables have been lower cost than fossil fuel," Zhang said.

At least 118 countries have supported the pledge led by the UAE COP28 Presidency to triple renewable energy capacity.

Zhang said an initiative launched at previous climate talks to finance the replacement of coal plants with clean energy, known as Just Energy Transition Partnerships (JETP), was also providing an opportunity for Envision.

He said investment plans published by Vietnam and Indonesia to access the JETP funding from banks and wealthy nations showed there is money to be made in the space.

"The financial investor or technology developer, they see this is an attractive investment opportunity," Zhang said.


(Reuters - Reporting by Sarah McFarlane; editing by David Evans)

Categories: Energy Asia Renewables

Related Stories

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

Sapura Energy Scoops Close to $9M for O&M Work off Malaysia

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

ADNOC Secures LNG Supply Deal with India's BPCL

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

Current News

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com