Workers help build a 40-megawatt solar power project in a photoelectric industrial park in Dunhuang, Northwest China's Gansu Province on December 11, 2021. The city has over recent years taken advantage of its bountiful wind and solar resources to push for the development of the local new energy sector, beefing up its green economy. Photo: cnsphoto

The National Development and Reform Commission (NDRC), China's top economic planner, and the National Energy Administration (NEA) jointly issued a policy guideline on improving institutional mechanism for green energy development, which vows to accelerate the construction of large turbines and photovoltaic power generation bases while optimizing the country's coal production capacity, according to a statement issued by the NDRC on Thursday. 

Responsible departments will accelerate the construction of large wind turbines and photovoltaic power generation bases across important areas such as the country's northwestern desert areas and the Gobi region, upgrade existing coal power generators in the region, and explore the establishment of the delivery channels for new-energy power transmission mechanism, while fiscally supporting to build as many new-energy power resources as possible. 

The guideline also stressed the need to establish long-term mechanisms to promote the green development of coal and optimize the coal production capacity by promoting efficient and clean use of coal and implementing relevant supporting policies for the industry. 

The opinions proposed a variety of measures to optimize mechanisms for sectors involved in the green and low-carbon energy transition, including green energy consumption, financial support, and technological innovation while continuing to explore, develop and utilize new-energy resources.

For instance, the policy guideline encourages innovations focused on financial products and services to support low-carbon energy development and utilization and promote pragmatic cooperation for projects under the China-proposed Belt and Road Initiative, while explore and develop cooperative mechanisms for connecting industrial upstream and downstream enterprises.

The guideline also vows to attract and guide foreign investment to the clean energy industry while actively cooperating with international organizations. It sets the goal of basically establishing the institutional framework for promoting green energy development, and form a standard, market and regulatory system during the 14th Five-Year Plan period (2021-25).
 
Global Times