CHINA’S total investment in thermal power construction last year fell to its lowest level since 2004, according to data from an official industry group, as the country tried to restrict investment in polluting projects.

The China Electricity Council (CEC), which represents power generators, plant builders and equipment manufacturers, said in a latest report that investment in new thermal power plants reached 78.6 billion yuan (US$11.35 billion) in 2018, down 8.3 percent year on year and amounting to 28 percent of total spending in the sector.

Of the total, coal-fired capacity investment stood at 6.44 billion yuan, down 8.8 percent year on year, the CEC said.

Total power investment fell 3.9 percent year on year to 278.7 billion yuan. Spending on hydropower construction rose 12.7 percent to 70 billion yuan, while nuclear investment inched down 1.6 percent to 44.7 billion yuan.

However, policies aimed at curbing overcapacity and tackling a subsidy payment shortfall meant that solar power investment plummeted 27.4 percent to 20.7 billion yuan in 2018, while wind power also dropped 5.2 percent to 64.6 billion yuan.

China has vowed to reduce its dependence on fossil fuels, and it aims to bring the share of coal in its overall energy mix to 58 percent by next year, down from 68.5 percent in 2012.(SD-Agencies)