Shen Zhen Photo: VCG

 
China's tech hub Shenzhen has set a target of achieving added value of 100 billion yuan ($15 billion) in the new energy industry by 2025, as part of the city’s plans to push its renewable energy industry up to a new level. 

Several government departments in Shenzhen have rolled out a plan for nurturing the city’s new energy industrial clusters, including solar power, nuclear power, power storage and wind power, according to a statement published by Shenzhen's Development and Reform Commission on Monday. 

According to the plan, Shenzhen's new energy industrial added value should stand at 100 billion yuan by 2025. This would be an increase of 56 percent compared with 2021, data revealed in the plan showed.

In 2021, Shenzhen's new energy industrial added value stood at about 64.2 billion yuan. 

Besides, Shenzhen's new energy power generation installed capacity should account for about 83 percent of the total by 2025, compared with about 77 percent in 2021. 

Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, said that the added value target is relatively "conservative" and should not be difficult to achieve, considering the city's advantages in new energy-related manufacturing, such as electric cars. 

However, he said that the space for developing wind power and photovoltaic capacity is not as big in Shenzhen, as there's not much land for new energy capacity, and the traditional thermal power installation can't be easily replaced because of the importance of its stability. 

The city government of Shenzhen also listed a number of specific targets for the new energy industry. 

For example, Shenzhen plans to nurture up to five new energy companies with yearly added value of 10 billion yuan by 2025, as well as 30 companies with yearly added value of 1 billion, according to the plan. 

The city also hopes to establish a number of innovative platforms surrounding key new energy areas like power storage and nuclear power, as well as making breakthroughs in a batch of industrial core technologies. 

Shenzhen will also push forward certain key projects in the new energy field, such as fourth-generation nuclear power.