Energy-related news never cease to intrigue traders and rightfully so. There is little doubt that the energy market is at a crossway with some people questioning whether new types of energy will replace the old ones.
However, today’s news is somewhat of an exception. They look clear enough: China has built a new solar power plant in Datong – and as we all know – China likes to do things BIG, so it’s a 250-acre one.
This isn’t the end of it though. Apparently, the new solar farm is shaped like a panda – a giant panda to be exact.
— Forbes (@Forbes) July 30, 2017
This is undoubtedly a showcase of the country’s commitment to renewable energy. China has pledge to be a leader in the field and is clearly taking serious steps on its way to becoming a renewable energy superpower, drastically expanding its abilities in this field. Who thought about a panda shaped plant? It was suggested by – wait for it – Panda Green Energy’s largest shareholder – China Merchants New Energy, in May of 2016. It was considered a move that would make Chinese youth more supportive of renewable energy.
The new solar power plant is expected to replace 1 million tons of coal over the upcoming 25 years. This isn’t the last solar panda we’re expected to see. 99 additional panda-shaped solar plants are planned across China and Asia over the next years. China is planning to construct trillions of dollars’ worth of infrastructure investment along the Silk Road connecting Asia to Europe. What infrastructure? Well, examples include gas pipelines, power plants, railways, bridges, roads and even ports. China will spend an estimated $150 billion annually on the 68 countries that have embraced the initiative.
Where is the energy market heading to next? What will be the roll that China plays in a world of a less-involved United States? Stay informed and follow market developments.
You might be wondering why on Earth Chins is ready to fork out this kind of cash, but in an age when the United States is drawing back from the global arena, it’s becoming incredibly evident that China is moving to the front, intending to take the lead – certainly in Asia if not globally.