POWERCHINA Sets up New Energy Subsidiary

Power Construction Corporation of China (POWERCHINA) reorganized its new energy business and launched POWERCHINA Renewable Energy Development Co., Ltd. in Beijing on Dec 26.

The newly-established company is expected to support China's goal of peaking carbon dioxide emissions by 2030 and reaching carbon neutrality by 2060 and to improve the country's energy structure and energy security.

Upon launch of the new company, the new energy installed capacity of POWERCHINA will exceed 7 million kilowatts, which will boost strategic transformation and high-quality development of POWERCHINA.

(Executive editor: Niu Yilin)