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Latest News In Energy Transition - China's Renewable Energy Surge Driven By Government and Technology
Reviewed by Simply Wall St
The China Renewable Energy Market is poised for significant growth, expected to reach 5.98 GW by 2033 from 2.03 GW in 2024, driven by ambitious carbon neutrality goals and a suite of supportive government policies. This expansion is underpinned by declining costs of solar and wind technologies, advancements in grid infrastructure, and increased adoption of clean energy solutions amidst rising electricity demands due to urbanization and industrialization. The Chinese government's legislative support, such as market-based pricing for new renewable energy projects and strategic energy plans, is facilitating the transition to a low-carbon economy. Additionally, technological advancements and international partnerships aim to enhance grid integration and infrastructure to accommodate the increasing renewable capacity.
- China Three Gorges Renewables (Group)Ltd (SHSE:600905) last closed at CN¥4.29 ending trading with no change.
Elsewhere in the market, SSE (LSE:SSE) was a standout up 16.8% and ending the day at £23.07, a new 52-week high. The company, on one day ago, announced a follow-on equity offering totaling £6.956511 million and reported a drop in net income to £292.1 million from £522.1 million year-over-year amidst a 16.8% stock price increase. Meanwhile, A2A (BIT:A2A) lagged, down 9.3% to end the day at €2.46.
Best Energy Transition Stocks
- Equinor (OB:EQNR) ended the day at NOK244.20 down 1.8%.
- Chevron (NYSE:CVX) closed at $153.32 down 1.9%.
- Tesla (NasdaqGS:TSLA) finished trading at $430.60 down 2.1%. Faraday Future announced yesterday that its future vehicles will have direct access to Tesla's Supercharger network.
Seize The Opportunity
- Click through to start exploring the rest of the 182 Energy Transition Stocks including KandenkoLtd, Nucor and Hindalco Industries now.
- Interested In Other Possibilities? Outshine the giants: these 27 early-stage AI stocks could fund your retirement.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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About NasdaqGS:TSLA
Tesla
Designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally.
Flawless balance sheet with reasonable growth potential.
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