China to Increase Renewable Energy in 2013 to Reduce Coal Dependence

Bloomberg reported that China, who relies heavily on coal for energy, has committed to adding 49 gigawatts of renewable-energy capacity this year in order to reduce their carbon emissions.

As quoted in the market report:

China will add 21 gigawatts of hydroelectric capacity, 18 gigawatts of wind generation and 10 gigawatts of solar, according to a statement today on the website of the National Energy Administration. The agency, a unit of the National Development Reform Commission, reported the results of a national work meeting on energy in Beijing yesterday and was attended by Zhang Ping, who heads the commission.

To view the whole Bloomberg report, click here.