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Innovation

China to launch plans to cultivate new energy sources, says report

China is planning to unveil its plans for developing alternative energy industry, according to published reports.
Written by Larry Dignan, Contributor on

China is planning to unveil its plans for developing alternative energy industry, according to published reports.

Reuters, citing the China Securities Journal, reports that China is planning to spend $739 billion through 2020 on alternative energy.

The plan has been submitted to the China's State Council for approval. The Chinese stimulus plan would cover nuclear, wind, solar, biomass as well as cleaner versions of existing power sources like coal.

A recent Department of Energy report noted that China is becoming the largest wind energy market and ramping up spending on solar.

Related: China in the wind power driver's seat

This post was originally published on Smartplanet.com

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