Energy cooperation platform within SCO launched

China launched an energy cooperation platform within Shanghai Cooperation Organization member states in Beijing on Tuesday, signaling a major push to deepen collaboration on energy and drive green transition across the region.

The diverse resources, markets, and technologies within SCO countries, particularly the abundance of renewable energy resources, create significant opportunities and a promising outlook for collaboration in the renewable energy sector, said Wang Hongzhi, head of the National Energy Administration.

"Energy cooperation is a vital component of practical regional collaboration," he said.

"China is committed to collaborating with SCO nations on long-term, sustainable energy initiatives to expedite the transition toward a green and low-carbon energy future."

Ever since China assumed the rotating presidency of the SCO in July last year, Chinese companies have signed, begun or completed over 160 power and renewable energy projects and more than 60 oil and gas projects in other SCO countries, totaling around 380 billion yuan ($52.5 billion), according to data released by the administration.

These projects are a powerful engine for regional economic and social development, it said.

The administration will further leverage the platform to deepen practical exchanges and cooperation with other SCO countries in the energy sector, explore new avenues for clean energy collaboration, enhance regional energy governance, and create a secure, green, and shared development platform, Wang said.

There has been a surge in renewable energy collaboration between China and other SCO partners recently, fueling a considerable expansion of green energy capacity throughout the region and playing a key role in global decarbonization initiatives, said industry experts.

According to Li Sheng, director-general of the China Renewable Energy Engineering Institute, China is heavily focused on solar and wind power in its energy cooperation with other SCO countries.

SCO countries already hold a significant position in the global renewable energy market, he said.

By the end of 2024, their installed renewable energy capacity exceeded 2.3 billion kilowatts, roughly half of the world's total, data from CREEI show.

"SCO countries possess abundant renewable resources, while China's leading renewable energy technologies, strong project construction capabilities, and complete industrial chain can complement the SCO's energy resources, industrial needs and market opportunities, fostering regional renewable energy development and mutual benefit," Li said.

"The future of renewable energy cooperation between China and other SCO countries is promising."