New energy industries to fuel China's green growth
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According to a report by the Climate Policy Initiative at Tsinghua University, China added 90GW of additional hydropower, 25GW of wind power and 2GW of nuclear power during the period from 2005 to 2008.
"Through developments over the past several years, China's new energy industry has laid a sound foundation. Take wind power, for example. China has finished learning foreign technologies and has formed a relatively complete industrial system," Qin Haiyan told Xinhua.
Huarui Wind Power Technology Company, China's leading wind power company, headquartered in the silicon valley of Zhongguancun, says its work on the most advanced wind turbine with a single unit capacity of 6 MW is progressing smoothly and the first model will come off the line in June of this year.
The company's earnings in 2010 jumped 48.03 percent from the previous year to 20.3 billion yuan (3.1 billion U.S. dollars).
Huarui's robust performance mirrors the sector's boom in the broader market.
China installed 18.9GW wind turbines in 2010, up 37.1 percent from 2009, bringing China's total wind generating capacity to 44.7GW, according to figures released by the CWEA.
Reports by the Global Wind Energy Council (GWEC) and the Chinese Renewable Energy Industry Association (CREIA), also show that China has overtaken the US as the largest wind power market globally.
With the market expanding, the country sees no end to the growth in green investment.
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