(Yicai Global) Nov. 15 -- Shares of Chinese wind and solar power companies such as Hopewind Electric rose after the national energy plan agency pledged its support to the development of such renewables.

Wind and solar power equipment manufacturer Hopewind's equity price [SHA: 603063] jumped by the daily limit of 10 percent to close at CNY29.84 (USD4.20). Other stocks with 10 percent hikes were energy investor Kuangda Technology Group [SHE: 002516] and Shenzhen-based engineering firm Thvow Technology [SHE: 002564].

Train manufacturer CRRC Times Electric [SHA: 688187] and environmental coating firm Sunrise New Energy [SHE: 002256] also rose by more than 5 percent.

Renewable energy will be promoted to achieve high-quality leapfrog development by 2025, and wind and photovoltaic power generation will be actively promoted in the northeastern, northwestern, and southeastern parts of China, Wang Dapeng, deputy department director at the National Energy Administration said at a press conference yesterday.

China is now reviewing the third group of large-scale wind and photovoltaic power bases, said Dong Wancheng, another deputy department director. In the first three quarters of 2022, China’s added non-fossil fuel generation capacity amounted to about 94 million kilowatts, making up 82 percent of the total new installed capacity, as the country is kicking off one green energy project after another.

From January to September, China added 90.4 million kW of renewable energy while solar power made up more than half of that, based on data from the NEA.

Editors: Shi Yi, Emmi Laine, Xiao Yi