In present times, renewable energy plays a very crucial role in the fields of electricity production, cooling/heating air and water, and motor fuels. As it replaces conventional fuels (which are generally high in cost), an ample amount of capital is saved legitimately.
According to REN21’s report, renewable energy contributes 19% to our energy consumption.
Currently, Asian countries are investing excessively in wind, solar, hydro, and biofuels. The most prominent examples of such countries are China, Pakistan, and India.
Renewable Energy Development In China
Chinese renewable energy industries are constantly working on the generation of electricity through various natural resources. China Longyuan Power Group has set a plan to construct 1GW of offshore wind farms, this year. Also, it wants to produce 150 to 200 gigawatts of electricity using solar power by 2020.
Li Junfeng, the director at the National Development and Reform Commission of China said that ‘the government is setting very aspiring targets for renewable energy’.
He also stated that the government was pushing the renewable energy industries to cut the cost of these projects. He further added that the government is hopeful to cut the wind cost by 3-5% and the solar costs by 2% annually.
Renewable Energy Production In Pakistan
The Pakistani government is highly interested in becoming self-reliant in the generation of renewable energy. In the past year, it received a $3 billion investment for fast growth in the renewable energy sector.
According to Amjad Ali Awan, the CEO of the Alternative Energy Development Board (AEDB), ‘The resource assessment of solar, biomass and wind had been conducted in the state with the help of the World’s Bank’s program which is specially designed for energy sector development’.
Around 25 letters have been sent to solar energy projects, having a generation capacity of 663 MW. The projects would commercially start by 2018.
India’s Contribution To Producing Renewable Energy
Likewise, China and Pakistan, India also emphasize on the increased growth of renewal energy. On 7 December 2015, Welspun Renewables announced the contracting of a 126 MW wind project in Pratapgarh, A Rajasthani district.
This project is the biggest wind project of the company, which will produce 290 million units of pure energy. Also, this project helps alleviate 2, 11, 922 tonnes of carbon radiation on an annual basis.
As per Vineet Mittal, the Vice Chairman of Welpsun Renewables, the total cost incurred by this huge project is Rs. 840 crores and this will be one of the largest generating power plants in India.
Asian renewable energy programs help attain full control over economic limitations caused by conventional fuels. Nowadays, Asian countries are more concerned about saving their capital by generating affordable renewable energy projects. Great, isn’t it?
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