In order to present all the potential of this market, China-Britain Business Council has created a quick infographic which helps understand easily how this market could lead to opportunities for UK and europeans companies.
Through this infographic, we discover that China has been implementing wave and tidal energy devices since 1976. Indeed, between 1985 and 1976, 40 tidal power plants were build in Guangdong Province, Shandong Province and in Shanghai. Although these plants are now out of service due to wrong site selection, technology or usage issues, the Chinese government is still supporting the development wave energy sectors.
In order to accelerate research and development on wave and tidal energy projects, the Chinese government has invested more than Rmb1 Billion since 2010 and has approved the creation of 3 national level marine energy trial parks in 2014.
Knowing that the worldwide wave and tidal energy deployment is estimated to reach 337GW by 2050. With a potential of 25.2GW, there are reasons to believe that China will be a very attractive market.
Read the full infographic at : cbbc.org
Author : Patrik Li, Energy expert for CBBC
Illustration : CBBC