CHN Energy to ramp up investment in green biz

CHN Energy Investment Group (CHN Energy) is on track to efficiently step up investments in fields such as renewable energy and clean utilization of coal, to further facilitate China's goal of achieving around 5 percent annual GDP growth.

The company kicked off new energy projects with a capacity of 28 million kilowatts during the January-September period, and 27 million kW were put into operation, company spokesman Huang Qing said during a news conference in Beijing on Thursday.

This is part of CHN Energy's efforts to accelerate investments to facilitate the country's economy, which is on track to meet its annual growth target of around 5 percent this year, he said.

CHN Energy is the world's largest power producer and the top wind power developer in terms of installed capacity.

Huang said the company has completed an investment of 153.3 billion yuan ($21.5 billion) so far this year, a year-on-year increase of 23.5 percent.

It is expected that fixed-asset investment in the fourth quarter will be nearly 100 billion yuan, with total fixed-asset investment for the year exceeding 250 billion yuan, representing an increase of over 10 percent year-on-year, he added.

Analysts said State-owned enterprises have always played a key role in large-scale development, and their increased energy investments show a clear alignment with national priorities for sustainable growth and energy security.

Efficient energy supply enables industrial growth, supports manufacturing, and enhances economic competitiveness, said Wang Lining, director of the oil market department of the Economics and Technology Research Institute under China National Petroleum Corp.

"Investing in energy infrastructure isn't just about meeting current needs. It's about creating long-term economic resilience. These investments reduce future energy costs, improve productivity and contribute to overall GDP growth," he said.

Luo Zuoxian, an analyst at the Sinopec Economics and Development Research Institute, added that increased investments by energy SOEs signal a strong commitment to securing the nation's energy future.

It not only strengthens energy security but also drives economic growth by creating jobs, boosting industrial capacity, and advancing the transition to cleaner and more sustainable energy sources, Luo said.

According to Huang, renewable energy investments amounted to 97.1 billion yuan during the first nine months, and technological upgrades, including equipment renewal, accounted for 17.5 billion yuan.

The recently launched integrated innovation base project in the Xinjiang Uygur autonomous region, the first to apply second-generation direct coal liquefaction technology in the country, has a total investment of 170 billion yuan, he said.

Located in Hami, Xinjiang, the project will see its first phase put into operation by the end of 2027, and will apply renewable green hydrogen coupled with coal chemical technology, seeking new breakthroughs and key core technologies toward a new industry ecosystem.

By leveraging domestic coal resources, the project will strengthen energy security and contribute to China's green transition by integrating cleaner and more efficient energy solutions into its industrial structure.

Once the industrial chain is fully operational, the project will generate 5,500 direct jobs and nearly 30,000 indirect jobs, greatly boosting Xinjiang's industrial incubation capacity. This will significantly enhance local living standards and serve as a driving force for high-quality regional economic growth and improvements in livelihoods.

The company achieved multiple production and operational indicators that set records and repeatedly broke historical records during the first three quarters.

The volume of self-produced coal during the third quarter reached 160 million metric tons, making the cumulative volume of commercial coal resources for the year exceed the target by 25 million tons, representing a year-on-year growth of 2.1 percent. This has effectively ensured coal supply for load centers in East and Central China, as well as the Southwest region.

zhengxin@chinadaily.com.cn