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Wuxi's new energy industry sees robust growth

Updated : 2023-08-09
(en.wuxi.gov.cn)

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A view of Wuxi. [Photo/Wuxi Daily]

The new energy industry in Wuxi, East China's Jiangsu province, experienced vigorous growth in the first half of this year, local media reported on Aug 8.

The 188 new energy enterprises above designated size in the city recorded an industrial output value of 97.38 billion yuan ($13.51 billion) during the Jan-June period, up 39.1 percent year-on-year.

To date, Wuxi has been home to 20 A-listed new energy enterprises, accounting for 16.8 percent of such businesses in the city. These listed new energy enterprises' total market value has reached 270 billion yuan and notably, Wuxi Lead Intelligent Equipment Co's market value now exceeds 50 billion yuan.

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Wuxi at night. [Photo/Wuxi Daily]

The operating revenue of the new energy industry in Wuxi expanded by 26.4 percent during the same period. Those of the photovoltaic, energy storage, and wind power sectors registered double digit increases with respective growth of 37.72 percent, 34.18 percent, and 17.6 percent.

Green transformation of the energy industry resulted in increasing demand of the photovoltaic and energy storage sectors, which explains the prosperous new energy industry in Wuxi, according to an official from the municipal bureau of development and reform commission.

In the first six months of this year, the new energy industry in the city finished a combined investment of 8.21 billion yuan. Forty-seven new energy projects with an expected investment of nearly 48 billion yuan are under negotiation.

The new energy industry in Wuxi boasts expansive fields and complete industrial chains and the city is relying on investment funds to promote the merging and reorganization of major new energy projects and companies to withstand market risks.

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