US$180 billion to go on renewable energy
8 November 2005
China intends to spend US$180 billion on renewable energy over 15 years in a bid to boost the proportion of the country's renewable power sources from from 7% to 15%, state media reported. "Renewable energy, including solar, wind power and hydropower, will contribute to better energy security in China," said Zhang Guobao, vice minister of the National Development. EU Environment Commissioner Stavros Dimas, who attended his press conference, praised the initiative.