America’s position as a hegemonic superpower is clear from a territorial and, eventually, geopolitical point of view. But what about renewables? China and Russia have just forged an alarming alliance with which they intend to take away our leadership position in this area. We will reveal all the details.
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One of the most impressive renewable energy goals that China has set is part and parcel of its goal to go net-zero emissions by 2060. The nation intends to have wind and solar power contribute more than 35% of its energy mix in 2030.
China will have to install a solar capacity with at least 200 GW of additional power and 270 MV from the wind over five years to achieve this. The Chinese government supports renewables through various policies, such as feed-in tariffs and competitive auctions with huge subsidies. Hence, China is already dominating the world in terms of total installed capacity for hydro wind and solar power.
In 2021 China invested $266 billion on renewable energy higher than what the next three countries with highest spending put together spent. Huge investments in renewable energy manufacturing have also enabled China to lead the world’s supply chains.
The other side is numerous while strides All they do is clump together and set up s confessing Still, it is the private firms that have been behind phenomenal development of distributed solar PV. Inspired by the exemplary evidences of its policy support, China seeks to pursue the highest investments in renewable energy capacity and manufacturing.
China and Russia are going to dominate renewables: the project with which they want to leave the U.S. behind
Considering the sanctions being imposed by western countries on Russia, it has partnered with China as a crucial player for domestic renewable energy projects besides serving as an export market.
Western companies left Russia after the invasion of Ukraine, allowing it; however, in Rushia there is no access to Important Renewable Energy Technology and investment. China has therefore played the role of a hand that fills in for what is missing through its state owned energy companies.
Capital from China’s SOEs could be above $1 billion for a 1 GW wind farm project of Russia in the Amur region. Conversely, Russia provides an opportunity for China to export renewable-based electricity via established transmission network channels.
Particularly, to meet China’s increasing energy needs the partners are examining projects for boosting hydropower exports especially from Russia. Russia also supplies raw materials such as metals which are used in the making of turbine and panels. The China-Russia relationship is a non western dominated system alliance of the renewables axis.
Russian metals and energy group En+ is partnering with Chinese companies
PowerChina and China Energy Investment Corporation on renewable energy projects in Russia. One major project is a 1 gigawatt wind farm in the Amur region that could require 100 billion roubles ($1.3 billion) in investment.
En+ has also discussed building a wind turbine equipment manufacturing facility in Russia to supply this project. The manufacturing site could produce up to 60 6-megawatt turbines per year and require 14 billion roubles ($180 million) of investment.
In addition, En+ and China Energy Investment Corporation plan to jointly develop the Zashulanskoe hard coal deposit in order to produce 5 million metric tons of steam coal annually by 2027. The project would involve developing a coal mine, infrastructure, a railway station, and acquiring machinery and equipment.
As you can see, the race to dominate renewables in the world will be increasingly accelerated. Who remembers the empty promises of COP28? Once again, America has taken a giant leap forward, but has been confronted by two powers that intend to surpass us. China and Russia will continue with their alliance, will we do the same with the EU?