China to boost shale gas, solar power development

China vows to boost the development of its alternative energy sector. The 2013 National Energy Working Conference wrapped up in Beijing Tuesday, and it set tone for major projects in 2013. During the conference, the government highlighted expedited development in the shale gas and solar energy sectors, and ensuring efficient supply of energy this year.

The meeting sets up eight main targets for work in China's energy sector, including increasing energy supply, and the development of hydroelectricity and wind power. The government also wants to boost development of the shale gas and the solar energy sectors.

In 2013, China will install new equipment for hydroelectric power generation with capacity of 21 million kilowatt, wind power generation of 18 million kilowatt, and solar power generation 10 million kilowatt. In terms of solar power generation, that's more than double the capacity put in place in 2012, and will boost the total capacity to 17 million kilowatt.

Meanwhile, shale gas development is also on the fast track. After announcing the results of the second round of exploration auctions, the successful companies will sign exploitation deals. Sources expect China will further step up supporting measures to expedite shale gas exploration.