China Prepares to Invest Big-Time in Country’s Electric Grid
Posted on 10/10/2020
China’s electric grid is becoming more important as it supports the country’s economic growth, integration of renewable energy sources like hydropower and solar, and the objectives of the One Belt, One Road Initiative (BRI). China’s Xinhua News Agency reports that China will invest over 6 trillion yuan (US$ 896 billion) in the next five years (2021 to 2025) to further develop the country’s power grids. Xinhua is reporting from Mao Weiming, the Chairman of State Grid Corporation of China. The investments will focus on ultra high voltage power transmission, electric vehicle chargers, and new digital infrastructure.
State Grid Corporation of China is owned by China’s State-owned Assets Supervision and Administration Commission.