The State Grid Corporation of China said that it is investing over CNY150bn ($22bn) in the second half of this year for executing a new batch of ultra-high voltage (UHV) power transmission projects across China.
According to the Chinese state-owned company, the projects are anticipated to further make use of the role that power grids have in expanding investment.
State Grid Corporation of China tweeted: “State Grid will start constructing a new batch of ultra-high voltage projects in the 2nd half of the year. With a total investment of more than 150 billion yuan, these projects are expected to further leverage the role of power grids in expanding investment.”
In the first half of this year, the electric utility corporation had 11 UHV projects under construction. The projects are worth CNY90bn ($13bn).
The total length of the transmission lines that are part of the 11 projects is 6,828km.
One of the projects is the 800kV Baihetan-Jiangsu UHV direct current power transmission project, which began operations last month.
The Baihetan-Jiangsu project is designed to bring clean hydropower generated in the southwestern Chinese province of Sichuan to the Jiangsu Province in the eastern part of the country.
Xinhua, which is China’s official state press agency, reported that State Grid Corporation of China’s investment in projects under construction was CNY883.2bn ($131bn) in the first seven months.
The total investment of the Chinese electric utility in transmission projects is likely to reach CNY1.3 trillion ($192bn) in 2022. This will result in a CNY2.6 trillion ($384bn) worth of relevant investment in the upstream and downstream sectors, wrote the news agency.
