China ramping up grid spending after green power boom

China's wind and solar power capacity more than doubled from 2020 to 2024 to 1,350GW

- Bloomberg

After launching the biggest boom in renewable power in history, China is now paying up to make sure all that clean energy can get to homes and businesses.

Spending on power transmission surged 19% to 529 billion yuan ($72 billion) in the first 11 months of last year, according to the National Energy Administration. Funding for new power capacity was larger at 866.5 billion yuan, but at just 12% growth it's looking likely that annual grid investments expanded faster than generation projects for the first time since 2018.

And infrastructure investment will keep rising this year. State Grid Corp. of China, the nation's largest operator, promised to boost spending to more than 650 billion yuan in 2025 after setting its budget at 600 billion yuan last year. China Southern Power Grid Co., the other major operator, has said it plans to lift capital spending for network upgrades by more than half by 2027.