By Wu Siya

 

BEIJING, Mar. 27 (China Economic Net) –"In 2024, China, as a key player in the global energy transformation, has achieved remarkable achievements, among which the installed capacity of solar energy has increased by 48.8% to 750GW, accounting for 40% of the global total; the installed capacity of wind power has increased by 20% to 470GW, accounting for 60% of the world," said Vladimir Norov, former Secretary-General of the Shanghai Cooperation Organization (SCO), in his speech at the 3rd China New Energy Overseas Investment Summit held on March 26, using a set of data to highlight China’s leading role in the global green energy transformation.

 

 

“In the past decade, the proportion of clean energy in China’s energy structure has increased by 10.9 percentage points. At the same time, China’s renewable energy exports have helped the world reduce carbon emissions by about 810 million tons in 2023, as well as the country’s energy transformation investment has reached USD 676 billion. These data further prove China’s position as the world's largest energy investor.”

 

The tide of new energy is unstoppable in every corner. In 2025, global clean energy investment is expected to reach USD 670 billion, exceeding the investment in fossil energy for the first time. From the solar-hydrogen storage demonstration area in the Sahara Desert to the distributed microgrid in the Amazon rainforest, new energy technology is being interconnected globally.

 

So what is China’s role in this development process?

 

“South-South cooperation is becoming a new driving force. The China-Africa Renewable Energy Innovation Center led by the United Nations Industrial Development Organization has 1,200 local technicians who have become the core force of Africa’s energy transformation. Chinese companies have provided mirroring technology for Saudi photovoltaic power stations, while Germany has provided them with heat storage systems, meaning technological puzzles are becoming a new trend in the development of global new energy cooperation,” Gong Weixi, former director of the United Nations Industrial Development Organization, pointed out.

 

Jirapat Methaseth, Minister Counselor, Royal Thai Embassy and Director of BOI, Beijing Office introduced that numerous well-known Chinese new energy companies, including industry leaders such as BYD, have invested and set up factories in Thailand. The Southeast Asian country is committed to becoming the largest electric vehicle manufacturing center in Asia or ASEAN. So far, Chinese new energy vehicle companies have invested more than 102.7 billion baht (about 22.1 billion yuan) in Thailand. In July 2024, BYD and GAC Aion’s factories in Rayong Province were completed and put into production. Chery Automobile and Changan Automobile's factories in Rayong Province are also under construction and are expected to be completed and put into production within the year.

 

“Since the Belt and Road Initiative was proposed in 2013, China’s major power enterprises have made a total of about 300 overseas direct investment projects each year. Compared with other energy types such as hydropower and thermal power, the number of new energy projects, mainly solar and wind power, accounts for the highest proportion, about 33%,” echoed Liu Kun, deputy secretary-general of the Electricity Industry Committee, the China Council for the Promotion of International Trade, citing industry report data in response.

 

“In an UN-led project to assist Africa in developing new energy, a girl named Maria once asked me if these blue solar panels would allow her to finish night school. Now, her sewing machine uses photovoltaic power, and her fabric products are sold through cross-border e-commerce to many households in Shanghai,” Gong recalled. “This is not only a story about new energy, but also a story about building a community with a shared future for mankind.”