China's Envision Energy Says 'Easy' to Triple Renewables

(File image: Envision Energy)
(File image: Envision Energy)

Chinese wind turbine maker Envision Energy believes "it's easy" to meet an international pledge made at the COP28 climate summit to triple renewables by 2030.

"This is not visionary," Envision CEO Lei Zhang told Reuters on the sidelines of the summit in Dubai.

"If you look at the wind and solar growth rate in the past, you see triple is not difficult because all renewables have been lower cost than fossil fuel," Zhang said.

At least 118 countries have supported the pledge led by the UAE COP28 Presidency to triple renewable energy capacity.

Zhang said an initiative launched at previous climate talks to finance the replacement of coal plants with clean energy, known as Just Energy Transition Partnerships (JETP), was also providing an opportunity for Envision.

He said investment plans published by Vietnam and Indonesia to access the JETP funding from banks and wealthy nations showed there is money to be made in the space.

"The financial investor or technology developer, they see this is an attractive investment opportunity," Zhang said.


(Reuters - Reporting by Sarah McFarlane; editing by David Evans)

Current News

Esgian Week 28 Report: Rig Activity Robust

Esgian Week 28 Report: Rig Act

ABS to Class Seatrium-built FPSO Pair for Petrobras

ABS to Class Seatrium-built FP

Miko to Supply Hull Closure for Equinor FPSO Raia

Miko to Supply Hull Closure fo

ADIPEC Technical Conference Receives Record-breaking 5,977 Submissions

ADIPEC Technical Conference Re

Subscribe for OE Digital E‑News

Offshore Engineer Magazine