China, arguably the world's most influential and dynamic economy, is beginning to eye renewable as a partial solution to its voracious and growing energy needs. If Beijing determines that biofuels represent the future, expect to see the current modest western investment field to change dramatically.
As yet, China's involvement is modest. According to a PetroChina company official, the firm intends to increase its production of biofuels by 2015 to 1.1 million tons and import and additional 470,000 tons. PetroChina, a traditional hydrocarbon company, is clearly thinking outside the box to increase its alternative energy portfolio.
According to PetroChina's Petrochemical Research Institute deputy chief engineer Fu Xingguo, China is looking at generating 933,000 tons annually of fuel ethanol and 165,000 tons of biodiesel.
According to Fu, China is looking to import biofuel from countries such as Brazil, the world's largest producer of ethanol, which will then be blended with regular hydrocarbon-derived traditional fuels and sold to southern Chinese provinces.
Full article at: China is Interested in Biofuels - Why Not the West?