China to invest nearly $900bln in power grids: state media

The investments will centre on areas such as ultra high voltage power transmission, electric vehicle chargers and new digital infrastructure

  
Image used for illustrative purpose. High-voltage lines, from Russia's largest Sayano-Shushenskaya hydroelectric power station, are seen outside the town of Sayanogorsk, in the Siberian Khakassia region, south of Russia's Siberian city of Krasnoyarsk, July 28, 2014. The 500-kilovolt line supplies electricity to the Sayanogorsky and Khakassian aluminium smelters of the RUSAL company. REUTERS/Ilya Naymushin

Image used for illustrative purpose. High-voltage lines, from Russia's largest Sayano-Shushenskaya hydroelectric power station, are seen outside the town of Sayanogorsk, in the Siberian Khakassia region, south of Russia's Siberian city of Krasnoyarsk, July 28, 2014. The 500-kilovolt line supplies electricity to the Sayanogorsky and Khakassian aluminium smelters of the RUSAL company. REUTERS/Ilya Naymushin

REUTERS/Ilya Naymushin

BEIJING - China will invest close to $900 billion in the next five years to help further develop the country’s power grids, the official Xinhua News Agency reported on Saturday.

Investments in power grids and related industries are expected to exceed 6 trillion yuan ($896 billion) in 2021-2025, Xinhua reported, citing Mao Weiming, chairman of the State Grid Corp of China, the country’s biggest power utility.

The investments will centre on areas such as ultra high voltage power transmission, electric vehicle chargers and new digital infrastructure, Mao said.

(Reporting by Ryan Woo; editing by Clelia Oziel)

© Reuters News 2020


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