Bloomberg is reporting that China will invest 5 trillion yuan (nearly $740 billion) over the next 10 years into renewable energy projects.

China was already the world leader in clean energy investment, according to a report from The Pew Environment Group. China beat out the United States for the #1 spot in 2009. That same year, China topped the US’s energy consumption. The International Energy Agency finds China’s energy use more than doubled since 2000.

2009 Clean Energy Investment and Ranking (from Pew)

1. China $34.6 billion

2. United States $18.6 billion

3. United Kingdom $11.2 billion