China: Belt and Road Policy Widens New Energy Reach

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China’s Belt and Road Initiative (BRI), the country’s foreign economic policy, is turning significantly greener as it becomes the primary export vehicle for the country's new energy expertise. China’s energy-related engagement —through investments and construction contracts — in the first half of 2023 was the greenest in any six-month period since the BRI’s inception in 2013, according to China’s Fudan University's Green Finance and Development Center (GFDC). Out of total energy engagement of $12.3 billion, about 41% went into solar and wind, plus an additional 14% into hydropower. "I expect this [renewable projects] to be a continuing trend due to continuous need in electricity production and the improving economics of solar and wind-generated electricity compared to fossil fuels," GFDC Director Christoph Nedopil told Energy Intelligence.

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