Download
Tech Talk: Foreign enterprise eyes China's climate market potential
CGTN

Translating...

Content is automatically generated by Microsoft Azure Translator Text API. CGTN is not responsible for any of the translations.

Error loading player: No playable sources found
04:18

Foreign energy enterprise is eyeing China's "huge potential" as the country takes big strides in fulfilling its dual carbon commitment set in 2020.

China is now the leading country for installed renewable energy, with its capacity reaching around 1,161 gigawatts in 2022, according to Statista. And it is set to produce 1,200 gigawatts of energy through wind and solar power by 2025, reaching its 2030 goal five years ahead of time, according to the report by Global Energy Monitor, a San Francisco-based NGO that tracks operating utility-scale wind and solar farms and future projects.

"Decarbonization means huge potential for us," CEO of MAN Energy Solutions Uwe Lauber said in an interview with CGTN. "But I think we need to be faster because 2060 sounds a long time period." 

The company, headquartered in Germany with operations covering engines, marine systems, power plants and turbomachinery, has been deeply involved in the Chinese market for more than 100 years. Lauber said 30 percent of the company's revenue is generated in China.

It is now looking at the new market created by Chinese enterprises in the traditional energy sector seeking to achieve net zero carbon emission with green technology. 

China's government has implemented a range of renewable energy policies aimed at addressing climate change and accelerating the low-carbon energy transition. The country will strictly control the growth of coal consumption and strive to produce energy with non-fossil sources accounting for more than 20 percent as embodied in the 14th Five-Year Plan (2021 to 2025). The plan also aims to achieve a 13.5-percent reduction in energy consumption per unit of GDP and an 18-percent cut in carbon dioxide emission per unit of GDP.

With China's huge shipyard industry and tremendous renewable energy sources, Lauber said the company is ready to work with shipyards in China to implement new engine types that use alternative fuels, such as synthetic methane and ammonia which requires several years of development, adding that it has set up solid infrastructure for such development.

"Today we clearly see a trend towards green methanol, which will come (in 20)25 or 26 onwards ... this is the automotive goal to work on these engine types. And right now, we have a shipyard here in China, and there's one methanol engine which will be built already here in China."

The company is also looking to develop hydrogen-based engines in collaboration with Chinese universities and companies.

"The relationship is based on long-term trust, and I think this is a proper and a sound foundation for future business as well," said Lauber.

MORE FROM CGTN

Who are the tech giants attending symposium with President Xi?
{"type":2,"value":"CGTN","commentator":[{"id":470,"name":"Guo Meiping","photograph":"https://news.cgtn.com/editor/2024-03-08/269/image/1709871162200.jpeg","url":"https://www.cgtn.com/stars/Guo-Meiping.html"}],"valueShow":false,"commentatorShow":true}

China

15:35, 17-Feb-2025

South Korea suspends local service of AI app DeepSeek: Yonhap
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Asia

02:04, 17-Feb-2025

Tencent's messaging app Weixin tests AI search with DeepSeek-R1
{"type":2,"value":"CGTN","commentator":[{"id":407,"name":"Gong Zhe","photograph":"https://news.cgtn.com/editor/2020-09-28/43/image/1601277199374.png","url":"https://www.cgtn.com/stars/Gong-Zhe.html"}],"valueShow":false,"commentatorShow":true}

Technology

11:16, 16-Feb-2025

Chinese superconducting quantum computer gets over 20 m global visits
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Technology

10:22, 16-Feb-2025

TOP NEWS

Xi Jinping urges healthy, high-quality development of private sector
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Politics

05:18, 17-Feb-2025

Munich Security Conference ends amid strained transatlantic relations
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Politics

03:34, 17-Feb-2025

U.S.-Russia talks on Ukraine crisis set to begin in Saudi Arabia
{"type":2,"value":"CGTN","commentator":[],"valueShow":true,"commentatorShow":false}

Politics

03:02, 17-Feb-2025

Search Trends