Nation consolidates green energy transition

On the other hand, many of the nation's newly approved coal-fired projects comprise large generating units to meet future growth in power demand and large-scale access to new energy sources.

In December, China Three Gorges Corp launched a multibillion-dollar renewable and fossil-fuel energy project in Inner Mongolia autonomous region, consisting of 8 gigawatts of solar power and 4 GW of wind power capacity, as well as 4 GW of coal-fired power capacity, plus energy storage.

The project is expected to ensure steady power output and grid operation. The fluctuating output of renewable energy and coal can also help supplement wind and solar power during times of peak demand. Last year, China's peak capacity hit a record 1,290 GW, a rise of nearly 20 percent from two years earlier.

On completion, the project will deliver about 40 billion kilowatt-hours of electricity to the Beijing-Tianjin-Hebei region every year. More than half of this total will comprise clean energy — equivalent to saving about 6 million metric tons of standard coal and reducing carbon dioxide emissions by about 16 million tons.

Luo Zuoxian, head of intelligence and research at the Sinopec Economics and Development Research Institute, said coal, a primary energy source for China, will ensure secure energy supplies.

He added that carbon peaking and carbon neutrality are not incompatible with energy security. The reliance on coal is temporary, as emerging forms of green power generation have not been able to cover all the growth in demand, but coal consumption will start to decline year-on-year.