In China's latest 14th Five-Year Plan (2021-25), the government has called for nuclear generation capacity expansion to 70 GW in 2025.

As demand for clean, renewable energy sources surges, there is growing consensus among industry experts that energy storage will play a pivotal role in driving green transition forward in China.

According to Deng, by the end of 2023, Northwest China had installed 222 GW of wind and solar capacity, and over 10 GW of battery storage projects.

China has committed to the dual carbon goals of peaking carbon emissions before 2030 and achieving carbon neutrality before 2060.

The proportion of nonfossil energy in the total energy consumption is expected to rise to around 18.9 percent, it said in a guideline on energy work in 2024.

The Dagang power plant in Tianjin, a pivotal player in the national energy landscape since the commissioning of its first unit in 1978, has been one such.

Spot electricity prices in the day-ahead market at the Indian Energy Exchange (IEX) fell by 8%.

In January the firm agreed to develop renewable energy projects with Azerbaijan's state-owned Socar for a total combined capacity of 4GW.