Chinese clean energy firms continue overseas expansion amid challenges, opportunities

This aerial photo taken on Dec. 23, 2023 shows a solar power plant in Tangshan City, north China's Hebei Province. In recent years, Tangshan City in Hebei Province encouraged the development of clean energy and promoted the construction of wind and solar power plants. By far, the installed capacity of clean energy in Tangshan reached 3.242 million kilowatts. Photo: Xinhua

Chinese clean energy companies have been continuing to expand into overseas markets and there are still vast market opportunities, despite challenges such as obstacles put up by Europe and the US, executives said at an industry meeting on Wednesday.

At the Strategic Emerging Industry Development Conference held by China General Nuclear Power Group (CGN), officials from several countries including Uzbekistan and Laos extended a welcoming hand to Chinese clean energy firms to help the energy transition in their countries.

In recent years, due to climate change, there has been growing demand for clean energy in many countries, which has created huge market opportunities overseas for Chinese companies, Wu Kai, vice president of Goldwind Sci & Tech Co, told the Global Times on the sidelines of the meeting.

"Chinese companies going overseas are not only building power infrastructure for people, but more importantly, bringing greater social value, including employment, improving people's lives, and driving the development of local industries," Wu noted.

In recent years, China's clean energy industry, including solar power and wind power, has been on the rise. But Europe and the US have taken various measures such as tariffs to set up obstacles for Chinese businesses and products.

However, that has not stopped Chinese businesses from expanding in overseas markets.

Goldwind Sci & Tech Co has invested in projects in 38 countries on six continents, and this is widely recognized by the public in these places, according to Wu.

CGN has put 48 projects into operation in 16 countries in Asia, Europe, and Africa, and has built a multicomponent, renewable investment portfolio to support the supply chain for international renewable energy, said Shi Weiqi, director of CGN, at the conference. He mentioned that the capacity overseas built by CGN is 13.63 million kilowatts, with assets totaling over 80 billion yuan.

Longi Green Energy Technology Co (LONGi), one of the world's leading suppliers of Solar PV Solutions, has developed production plans in India, said Liu Ting, leader of the firm's strategic marketing division in China.

LONGi's international business covers more than 150 countries and regions around the world, making it the benchmark for China's photovoltaic exports, insiders told the Global Times on Wednesday.

China has exported wind power, photovoltaic, and other renewable products to more than 200 countries and regions, according to data from the National Energy Administration (NEA). The NEA said that the average kilowatt-hour cost of global wind and photovoltaic power projects has fallen over the past decade by more than 60 percent and 80 percent, respectively.

"The falling cost of clean energy projects has largely been supported by Chinese innovation and Chinese factories," said the International Renewable Energy Agency.

Due to the advanced technology of Chinese clean energy products, many countries are also seeking to cooperate with Chinese firms.

At the meeting on Wednesday, government officials from Uzbekistan, Laos, and other countries showed their willingness to invite CGN and other Chinese renewable energy companies to participate in their green development.

"We also warmly invite CGN and all participants in this initiative to actively participate in projects in Uzbekistan," an official from the Uzbek Embassy in China said at the meeting on Wednesday.