High costs, capacity excess foil China hydro boom
Beijing
CHINA'S plans to ramp up hydropower capacity in order to meet its 2020 renewable energy targets could be stymied by soaring costs, a weak power market and a surplus of capacity in key regions of the south-west, developers said.
Smog-hit China is working to ease its dependence on coal and raise the share of non-fossil fuels in its total energy mix to 15 per cent by 2020, up from around 11 per cent now, but officials said the boom years for hydro were now over.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Anglo rejects BHP takeover bid as significantly undervalued
India rice prices at three-month low on shrinking demand
Gold prices set for weekly decline ahead of US inflation data
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply