China’s state-owned Power Construction Corp (PowerChina) is aiming for significant growth in Africa, focusing on renewable energy projects as part of its overseas expansion strategy, a company executive said. Chinese lending to African governments has fallen sharply from a 2016 peak of about $28-billion a year as Beijing grows more cautious about debt risk, but state-backed companies such as PowerChina are still pushing ahead with new projects, increasingly in renewable energy rather than coal.
