The Chinese government announced the establishment of the China National Renewable Energy Centre (CNREC), which is considered as part of efforts by the State to ensure the sustainable development of the second largest in the world economy.

CNREC will be responsible for the state strategy to develop renewable energy sources, to organize the study of policies related to such energy sources, together with the implementation of programs of cooperation with international organizations in the area, said the government representatives at the opening ceremony of CNREC.

The center also will assist interested agencies in the country’s road map of the development of photovoltaic energy, wind energy, biofuels and other renewable energy sources by collecting and analyzing relevant data, which would later be used in energy policy.

The Centre’s activities will be funded mainly by the Chinese government under the program for renewable energy, and project “China-Denmark” – a five-year program of cooperation between the Chinese and Danish governments launched in 2009. The government will fund CNREC 9 million Yuan in 2012 and 11 million Yuan in 2013, the China-Denmark project will supply 20 million Yuan each year in the following 2 years.

China became the world’s largest investor in the development of renewable energy. In 2010, China has invested 300 billion Yuan (47.62 billion U.S. dollars) in this area.

  energy, industry, investment