January 24 , 2024
China’s State Grid Corporation , the world’s largest electric utility firm, plans to invest US$70 billion on grid network construction by 2024. This represents a significant drive to enhance and modernise the country’s power infrastructure, with important consequences for both China’s domestic energy environment and the global energy transition.
The funds will be used to build ultra-high voltage (UHV) lines, ensure power supply reliability, and enhance renewable energy consumption in China. By 2024, the State Grid Corporation plans to complete six UHV AC lines and begin a number of other UHV projects. UHV transmission lines are power transmission cables that may operate at voltages more than 800 kV direct current or 1,000 kV alternating current. This will demonstrate China’s commitment to building a long-distance, high-capacity transmission network.
Also, the $70 billion investment will bring to pass china’s renewable energy goals of integrating wind and solar energy to the grid. This will improve the country’s capability to handle fluctuations in the demand and supply of electricity.
State Grid Corporation handles over 80% of China’s total electrical supply. The state-owned corporation intends to build 38 UHV projects during China’s 14th Five-Year Plan (2021-25).
The country has vowed to create a new power system to handle its growing proportion of renewables, intending to end carbon emissions by 2030 and be carbon neutral by 2060.
Source: Energy Ghana