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New energy industry gains steam in Wenzhou

ALMS|Updated: September 4, 2023


Photovoltaic panels in Wenzhou. [Photo/WeChat account: wenzhoufabu]

The new energy industry in Wenzhou has gained strong momentum in 2023.

Wenzhou, located in East China's Zhejiang province, boasts rich renewable resources such as wind energy, solar energy, hydropower, and tidal energy thanks to a coastline spanning 1,293 kilometers. It secured the 28th spot on the 2023 list of Hurun China New Energy Cities.

In 2022, 664 above-designated-size new energy enterprises in Wenzhou achieved a total industrial output value of 133.03 billion yuan ($18.3 billion), marking a year-on-year increase of 14.5 percent.

Continuing its upward trajectory, the city's new energy industry recorded a total output value of 85.52 billion yuan during the first seven months of this year, up 8.7 percent year-on-year. Over the same period, the city attracted 22 new energy projects, each with an investment exceeding 100 million yuan.

But that's not all – Wenzhou's new energy landscape is expanding rapidly, particularly in the realms of nuclear energy, offshore wind power, photovoltaics, pumped storage power, and power batteries. Its power storage capacity has been rising significantly as well.

Wenzhou has set ambitious goals, aiming to construct 50 new energy projects this year, with a combined investment of 368 billion yuan. These efforts will position it as a national powerhouse in new energy production and a model city for innovative applications.

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