China To Invest $85 Billion In Energy Sector

Feb 4 2009 | 8:46am ET

Chinese state media announced Wednesday the country would invest 580 billion yuan ($85 billion) to expand its energy industry in 2009, including investment in nuclear and wind-powered capacity.

State-owned power companies are increasing their investments to meet growing demand and boost economic growth. In addition to increased investment in coal-fired generation, plans call for spending on wind, nuclear and solar power, according to Chinese state television.

China will build eight more nuclear plants with a total of 16 reactors over the next three years, according to the China Daily newspaper.

The country has 11 nuclear reactors supplying about 1% of its power, and Beijing wants to raise that share to 5%, said the newspaper.

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