(Yicai) May 10 -- Listed Chinese electricity producers are stepping up their investments in new energy, as China accelerates the development of renewable energy, including hydro, wind, and solar power generation.

Representatives from a number of companies in the clean and low-carbon industry that are listed on the main board of the Shanghai Stock Exchange took part in an environmental, social, and governance performance briefing on May 8, which was broadcast by Yicai.

As of the end of last year, China had installed renewable energy power capacity of 1.45 billion kilowatts, accounting for over 50 percent of the country’s total installed power capacity and exceeding that of thermal power for the first time.

China’s power generation from renewable energy sources is expected to reach about 3.3 trillion kilowatt-hours a year in 2025, with wind and solar power output doubling, an executive at China Three Gorges Renewables Group, the world’s largest hydropower company, said at the briefing.

The country generated 2.07 trillion kWh of electricity from green energy in the first three quarters of 2023, according to official data.

At SDIC Power Holdings, profit from new energy reached CNY1.66 billion (USD229.8 million) last year, accounting for 11.7 percent of the energy giant’s total, Chairman Guo Xuyuan said. SDIC Power plans to have 17 million kW of installed new energy power capacity by the end of 2025, accounting for 30 percent of the total, he added.

SDIC Power has 24 new energy projects under construction, with an installed capacity of about 4 million kW, and 22 new energy projects are at the preparation stage, with an installed capacity of about 2.7 million kW.

Wind and solar are key development directions for Guiguan Electric Power, said an executive from the Guangxi province-based company. The firm has invested in 17 new energy projects from 2023 to the first quarter of 2024, all of which are either under construction or at the preparation stage.

Investors are paying more and more attention to ESG investment, and listed businesses are responding to this, said Gao Hai, board secretary at SDIC Power, adding that the company needs to incorporate ESG elements in market capitalization management and its strategies.

China Three Gorges Renewables is willing to join in the development of national and industrial ESG disclosure standards with Chinese characteristics, helping to enhance the country’s influence and voice in the global ESG system, said another manager.

The company has released ESG reports since it went public in 2021, he added. It has also been included in multiple ESG-themed indexes, including the China Securities Index and Hang Seng Index.

Editor: Tom Litting