With the growing global demand for clean energy, China is rapidly emerging as a global leader in the energy sector. The latest data recently obtained from the National Energy Administration (NEA) further confirms China's ambition and strength in energy investment. China's energy investment will maintain rapid growth in 2023The investment in key energy projects under construction and planned to start within the year is about 28 trillion yuanAmong them, the investment in new energy increased by more than 34% year-on-year, and the investment in clean energy accounted for more than 50%, which not only refreshed the historical record, but also demonstrated China's firm determination and great potential in promoting global clean energy development.
In terms of project types, both traditional energy projects and new business projects showed strong growth momentum. The amount of investment completed in conventional projects increased by 16% year-on-year, while the new business projects increased by an astonishing 1528% growth rate leads. In terms of geographical distribution, the amount of investment in the eastern, central, and western regions has also been realized. With a year-on-year increase of 5%, the nationwide energy construction boom is continuing to heat up.
In particular, it is worth mentioning that the growth of investment in the field of new energy is booming. In 2023, the amount of new energy investment will increase by more than 34% year-on-year, of which the investment in solar power generation will exceed 670 billion yuan, and the centralized photovoltaic projects in Hebei, Yunnan and Xinjiang provinces will lead the country with a year-on-year growth rate of more than 100%. Not to be outdone, the wind power sector has invested more than 380 billion yuan, with onshore wind power projects in Liaoning, Gansu and Xinjiang, as well as offshore wind power projects in Shandong and Guangdong, showing an accelerated investment trend.
China is playing an indispensable role in the global clean energy arena. According to statistics, in 2023, the global renewable energy capacity will be added by 5100 million kilowatts, while China's contribution is more than 50%, which is a testament to its leadership in the field of global clean energy.
At the same time, investment in supporting regulated power supplies is growing steadily. In 2023, investment in this sector increased by more than 12% year-on-year, and both nuclear power and large-scale hydropower projects showed good development trends.
In addition, investment in new energy formats is also gaining momentum. The investment in comprehensive energy projects is growing rapidly, and a number of source-grid-load-storage integration and multi-energy complementary projects in Northwest China are accelerating. The field of electrochemical energy storage has also shown rapid growth in Shandong, Hunan, Guangdong, Chongqing, Gansu, Xinjiang and other places. At the same time, green electricity hydrogen production projects in Inner Mongolia and Xinjiang are also progressing in an orderly manner.
To sum up, the rapid growth of China's energy investment has not only injected strong impetus into domestic economic development, but also contributed China's wisdom and strength to the global development of clean energy. With continuous technological innovation and policy support, China is expected to continue to play a leading role in the energy sector and promote the development of global clean energy.