State energy firms turn to renewables abroad

China's large State-owned energy companies are focusing on wind, solar and hydropower projects overseas at a time when energy forms the largest share of investments under the Belt and Road Initiative, with most of that money going into renewables, a senior official said.

After 10 years of development, these energy enterprises are charting a new course, setting up wind, solar and hydropower projects overseas to ride the wave of a cleaner, greener future, said Lu Ruquan, head of the China National Petroleum Corp Economics and Technology Research Institute.

These enterprises are playing a key role, and coming up with more renewable energy projects in countries and regions participating in the initiative, Lu said.