China Energy Engineering Group (CEEC) has finalised an agreement with the government of Erdos city in Inner Mongolia to invest about 3.63 billion towards setting up an integrated renewable energy project in the region.
The project will consist of 1 GW capacity of power generation through wind projects and 5 GW of solar power capacity, in addition to 8 GW of already planned coal-based power generation capacity. CEEC further plans to set up energy storage services with the integrated project. The integrated energy project is expected to generate around 33 billion kWh of electricity annually, 41 per cent of which is expected to be sourced from renewable sources.
CEEC has also announced that one of its units has secured two contracts to build 869 MW of renewable power plants in Brazil. The deal concerns a 231 MW wind farm and a 638 MW solar park, both of which will be built in Rio Grande do Norte state. In November 2020, CEEC signed an agreement with Chongzuo city government in southern Chinese region to invest 82 billion yuan into a mega-sized city development project, including energy, transportation and mines restoration.
Currently, China is heavily dependent on fossil fuel imports. It is the world’s largest importer of oil and natural gas and is an important coal importer as well. China is now working towards developing cleaner energy solutions, especially through wind and solar electricity generation and electric vehicles. Earlier this year at the United Nations summit, China announced that it will increase its installed capacity of wind and solar power to more than 1,200 GW by 2030, and reduce the share of fossil fuels in its primary energy consumption.