Chinese, foreign companies sign major deals at SCO meeting

Chinese and foreign companies signed deals worth approximately 40 billion yuan ($5.5 billion) during the Shanghai Cooperation Organization Energy Ministers Meeting, which was held in Ningbo, Zhejiang province on Thursday.

The 25 projects, which will have a total installed capacity of 12 million kilowatts (kW), demonstrate the broad potential for energy cooperation in the region.

According to a report released during the meeting, SCO countries had a total renewable energy installed capacity of 2.31 billion kW as of the end of 2024, accounting for about half of the global total.

Cooperation between China and other SCO countries in the area of renewable energy development has gained strong momentum in recent years.

To date, China has worked with other SCO countries on renewable energy projects that have an approximate installed capacity of 96.3 million kW. Solar photovoltaic and wind power projects make up 80 percent of this capacity.