China plans green energy stimulus plan

China is planning a USD 440 billion stimulus package to expand its renewable energy use, as the country aims to rely more on cleaner ways to power its growth. The CNY 3 trillion investments will see part of the focus on wind power. Under the plan, China’s wind power capacity will reach over 100 gigawatts by 2020, more than triple a goal of 30 gigawatts announced in 2007 in a renewable energy development plan. China has aimed to boost the share of renewable energy, excluding hydropower, to 6% of its overall energy use by 2020, from the current 1.5%. The new plan would be submitted to the State Council, or Cabinet, for approval with a result expected soon. The country has also set a goal to cut energy consumption per unit of gross domestic product by 20% and pollution by 10% by 2010 from levels in 2005.
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