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

Woodside Inks Long-Term LNG Supply Deal with China Resources

Japan's Mitsui Eyes Alaska LNG Project

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Shell Shuts Down Oil Processing Unit in Singapore Due to Suspected Leak

Pharos Energy Extends Licenses for Two Vietnamese Gas Fields

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Sunda Energy, Timor-Leste Gov Plan Accelerated Chuditch Gas Development

TotalEnergies Wraps Up Acquisition of SapuraOMV’s Gas Assets

Sunda Energy Closing in on Jack-Up Deal for Chuditch-2 Appraisal Well

CNOOC Brings Bohai Sea Oil Field On Stream

Current News

Mitsui’s STATS Lands Malaysian Pipeline Isolation Job

INEOS Wraps Up Acquisition of CNOOC’s US Oil and Gas Assets

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

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