The figure was revealed in the 'Plan on the Development of the Emerging Energy Industry', submitted to the State Council, China’s cabinet, and expected to be officially launched at the end of the year. The report also outlines China's nuclear power and hydropower ambitions.
Liang Zhipeng, chief of the new energy division under the New Energy and Renewable Energy Department of NEB, said the CHY5trillion yuan investment is calculated on the basis of how existing investment is arranged. This will include contributions by the central government and commercialized investment from domestic and foreign markets.
Liang said excluding nuclear power and hydropower, the renewable energy sector will account for CHY2trillion to CHY3trillion out of the CHY5trillion investment. Among them, wind power will be about CHY1.5 trillion , calculated on the basis of CHY10,000 to construct one kilowatt wind power facility. Solar power will have CHY200billion to CHY300billion.
Liang said it is too early to reckon how much will be invested by the central government.