Ambassador of China to Ghana, His Excellency LU Kun, has officially announced China’s advancements in the energy industry, marking a significant milestone for the republic to bring the world new opportunities.
The key development, according to a release issued by the Ambassador, is noted by the rollout of China’s new trio: electric vehicles, lithium-ion, and photovoltaic products, showcasing China’s readiness to enhance global economic development.
China’s new energy stands in accordance with the Republic’s mission to reduce emission pollution, significantly contributing to the global green transformation. “The development of China’s new energy industry has not only enabled China to fulfill its own emission reduction commitments, but its new energy products exported worldwide have also played an important role in reducing global carbon emissions.”
This new energy development emerges at a crucial time for the global industrial chain. With a high demand for high-quality production worldwide, China’s production of new energy products makes it a constant supplier, stabilizing the supply and industry chains of global clean energy. Citing estimates by the International Renewable Energy Agency, the Ambassador stated, “Global demand for new energy vehicles will reach 45 million units in 2030, 4.5 times that of 2022; global demand for new installed photovoltaic capacity will reach 820 GW, approximately four times that of 2022. The current production capacity for new energy products is far from meeting market demand, especially the huge potential demand in many developing countries.”
With a strong investment in human resources and supporting industries such as raw material supply, parts manufacturing, complete machine assembly, and after-sales services, China aims to alleviate global inflation pressures by producing high-quality energy products at lower prices. The Ambassador referenced the International Renewable Energy Agency, highlighting that “over the past decade, the average levelized cost of energy for global wind power and photovoltaic power generation projects has dropped by more than 60% and 80%, respectively, largely due to Chinese innovation, manufacturing, and engineering.”
China is prepared to expand its international partnerships, especially with Africa, to boost the green energy industry. “Global demand for new energy vehicles will reach 45 million units in 2030, 4.5 times that of 2022; global demand for new installed photovoltaic capacity will reach 820 GW, approximately four times that of 2022. The current production capacity for new energy products is far from meeting market demand, especially the huge potential demand in many developing countries.”
China selects Ghana as an exceptional partner to promote Africa’s green transformation and sustainable development, with a focused goal of expanding the reach of green energy across Africa and the world.