Spending on power transmission in China has increased by 19% to 529 billion yuan ($72 billion) in the first 11 months of 2024 according to the National Energy Administration.
Chinese wind and solar capacity more than doubled between 2020 and 2024 to reach 1,350 gigawatts. This rapid growth calls for a stronger power system network and more energy storage facilities, as China has already launched major energy storage projects in the last months.
GO15 members in China are paramount in this strategy:
- State Grid Corporation of China (SGCC) will boost spending to more than 650 billion yuan in 2025.
- China Southern Power Grid (CSG) is also planning to raise spending focused on network upgrades by more than half by 2027.