It’s production of renewable energy equipment has soared
China is already the world’s largest producer of photovoltaic panels and wind turbines, two engines of the alternative-power revolution.
It’s production of renewable energy equipment has soared. In 2010, the country accounted for about 50 per cent of all solar-cell manufacturing, the equivalent of 8,000 megawatts. It of windmill generator has been estimated that this rose to 18,000 megawatts by the end of last year. As a plethora of companies added their products to the market, prices for panels plummeted by about 50 per cent last year alone.
Visitors to the WFES will be aware of China’s influence on the market: its companies represent the largest contingent at the event, and more than 50 of them have pitched their stands in the exhibition centre.
China’s role in the renewables sector has not gone unnoticed by Abu Dhabi, which has set a target for its own renewables sector to provide 7 per cent of its electricity by 2020. Cooperation with China is one plank in its strategy, according to Masdar, the capital’s clean-technology company.
“Masdar has ambitious plans to further relations and home wind turbines cooperation with China in the acceleration, development and deployment of renewable energy and clean technology and is involved with China on a number of levels across multiple business units,” said Sultan Al Jaber, Masdar’s chief executive.
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