Record Generation Capacity by Chinese Power Firms Under Belt and Road Signals Continued Reliance on Fossil Fuels
Jan 27, 2025

Record Generation Capacity by Chinese Power Firms Under Belt and Road Signals Continued Reliance on Fossil Fuels

Chinese power companies achieved a new milestone by installing a record amount of generation capacity in countries aligned with Beijing's Belt and Road Initiative, with nearly half of these projects relying on fossil fuels. This development was detailed in a recent report by UK-based consultancy Wood Mackenzie, accessible here on January 27, 2025.

Over the past year, these firms completed 24 gigawatts (GW) of projects across more than 150 countries which have cooperation agreements with China, marking the highest level of installed capacity since the initiative's inception in 2013. This is a notable increase from the 10GW installed in 2023. IndexBox data highlights that 52% of these projects utilized renewable sources, including a significant increase in solar energy to 8GW and a fivefold expansion in hydroelectric power to 5GW.

However, reliance on "dirty energy" sources remains considerable, with 48% of the projects being coal, natural gas, or oil-fired, seeing a rise to 12GW from 3GW in 2023. Despite Chinese President Xi Jinping's 2021 pledge to cease construction of new overseas coal-fired plants, about 19GW of coal-fired power projects continue to be in the planning stages or underway. The Wood Mackenzie report also notes 9GW of natural gas-fired projects are in various phases of development.

"Chinese companies are heavily prioritizing greener technologies overseas," said Alex Whitworth, vice-president and head of Asia-Pacific power and renewables research. This shift is facilitated by declining costs, enabling the deployment of green technologies in many developing markets that were previously unable to afford them.

Source: IndexBox Market Intelligence Platform

  1. 1. INTRODUCTION

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    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS
  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 4. MOST PROMISING PRODUCT

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    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
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  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

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    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
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    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
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  7. 7. GLOBAL PRODUCTION

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    1. PRODUCTION VOLUME AND VALUE
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  8. 8. GLOBAL IMPORTS

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    1. IMPORTS FROM 2012–2024
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  9. 9. GLOBAL EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
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  10. 10. PROFILES OF MAJOR PRODUCERS

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  11. 11. COUNTRY PROFILES

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    • United States
    • China
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    • France
    • Brazil
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    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
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    • Netherlands
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    • Saudi Arabia
    • Switzerland
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    • Pakistan
    • Greece
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    • Algeria
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    • Peru
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  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Imports, In Physical Terms, By Country, 2012–2024
    7. Imports, In Value Terms, By Country, 2012–2024
    8. Import Prices, By Country Of Destination, 2012–2024
    9. Exports, In Physical Terms, By Country, 2012–2024
    10. Exports, In Value Terms, By Country, 2012–2024
    11. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2024
    18. Production, In Value Terms, 2012–2024
    19. Production, By Country, 2024
    20. Production, In Physical Terms, By Country, 2012–2024
    21. Imports, In Physical Terms, 2012–2024
    22. Imports, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, By Country, 2024
    24. Imports, In Physical Terms, By Country, 2012–2024
    25. Imports, In Value Terms, By Country, 2012–2024
    26. Import Prices, By Country, 2012–2024
    27. Exports, In Physical Terms, 2012–2024
    28. Exports, In Value Terms, 2012–2024
    29. Exports, In Physical Terms, By Country, 2024
    30. Exports, In Physical Terms, By Country, 2012–2024
    31. Exports, In Value Terms, By Country, 2012–2024
    32. Export Prices, 2012–2024

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