Aug. 23 2024 (InvestinChina.asia) – China’s installed power generation capacity reached approximately 3.1 billion kilowatts (kW) by the end of July, marking a 14% year-on-year increase, according to data released by the National Energy Administration (NEA) on August 23, 2024.
Notably, solar power capacity surged to about 740 million kW, up 49.8% from the same period last year, reflecting a significant shift towards renewable energy sources. Wind power capacity also grew, reaching approximately 470 million kW, an increase of 19.8%.
From January to July, the average utilization hours for power generation equipment across the country stood at 1,994, down 91 hours from the same period last year.
During the same period, major power generation companies invested 415.8 billion yuan in power supply projects, a 2.6% increase year-on-year. Grid infrastructure projects saw investment of 294.7 billion yuan, up 19.2% from the previous year.