BEIJING, Jan. 22 (Xinhua) — The China National Grid Corporation has pledged to expand its investment in 2023, allocating funds for power grid construction with a new record of 520 billion yuan (about 76.81 billion U.S. dollars).
The aforementioned figure increased by 4 percent compared to last year, which symbolizes the fourth year in a row that the company has increased its investments in this sector.
The data showed that last year, the company spent a total of 509.4 billion yuan in power grid construction, and attracted social investment of more than 1 trillion yuan in the sector.
The company said it will also make efforts to raise the power transmission capacity across provinces and across regions to 300 million kilowatts by 2025 and 370 million kilowatts by 2030, with clean-energy electricity accounting for more than 50 percent of the total.
The company will also operate four hydroelectric storage stations, and has planned to start building five other similar projects this year.
Established in 2002, the China National Grid Power Corporation supplies power to 26 Chinese provinces, autonomous regions and municipalities, covering the electric power supply of more than 1.1 billion people.
