China to invest $361 billion in renewable power by 2020
China will plow 2.5 trillion yuan ($361 billion) into renewable power generation by 2020,
the country’s energy agency has said.
The National EnergyAdministration said that the investment will create over 13 million jobs in the sector.
According to the NEA, renewable energy will contribute almost half of new electricity generation by 2020.
"The government may exceed these targets because there are more investment opportunities in the sector as costs go down," said Steven Han, renewable analyst with securities firm Shenyin Wanguo.