China to Continue Fossil Fuel Phase-Out and Electricity Reforms, Energy Regulator Announces

China’s National Energy Administration said that the country will continue to phase out of fossil fuels and reform its electricity system, according to a Reuters report.  

The energy regulator's white paper highlighted past achievements but provided few new details about future plans for China's energy transition. 

Zhang Jianhua, head of the National Energy Administration, outlined ongoing initiatives to reform the electricity system, expand the spot market, enhance green electricity trading, and replace fossil fuels with renewable energy.  

He also emphasized the need for market-oriented reforms. 

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At a press conference held by the State Council, China’s cabinet, Zhang revealed that China invested $676 billion in its energy transition last year.  

This figure, cited by research organisation BloombergNEF, represents 38% of global investment in the energy transition.  

Despite being a leader in renewable energy, China's power system depends heavily on coal. 

China had initially aimed to install 1,200 gigawatts of wind and solar power by 2030, but due to rapid growth in renewable energy installations, it achieved this goal in July, six years ahead of schedule. 

Regarding the potential for setting a more ambitious renewables target for 2030, Li Changjun, director of the new energy department, mentioned that new goals and measures would be developed based on national conditions. 

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The white paper reviewed various previously announced measures, including advancements in energy storage technology and energy conservation efforts.  

It also dedicated a chapter to fostering a "global community of shared future," highlighting China's efforts to promote green energy cooperation through its extensive Belt and Road Initiative.  

The paper mentioned the Karot hydropower station in Pakistan, part of the China-Pakistan Economic Corridor, which has recently faced threats from separatist militant attacks.