China to invest $11 billion in solar, wind and coal energy projects by 2030

China's state-owned energy company has allocated 80 billion yuan ($11 billion) to create an energy base that will generate electricity from solar, wind and coal sources.

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A subsidiary of the country's largest hydropower corporation, China Three Gorges Renewables Group, plans to build a 16-gigawatt power plant and a 5-gigawatt storage facility, Bloomberg reports.

This project is part of China's ambitious plan to build 455 gigawatts of renewable energy facilities in the desert by 2030. The plant will be located in Inner Mongolia, which will receive 135 gigawatts of the planned capacity.

Three Gorges Corporation is seeking to diversify its energy sources as the construction of large hydro dams becomes less feasible. According to Three Gorges, the plant's wind and solar power generation will depend on grid availability. The coal-fired power plant is scheduled to be launched in three years.

Bloomberg notes that China is seeking to increase the share of clean energy in its power grid. The country is actively building new solar, wind and other renewable energy facilities. However, when these energy sources are unavailable due to natural conditions (for example, there is no solar power at night, or wind turbines cannot operate when there is no wind), China often uses coal.

Source: Bloomberg