The State Grid Corporation of China (SGCC) intends to invest CNY6,000bn (around US$890bn) in power grids and related industries during the 14th Five-year Plan period (2021-2025), focusing on ultra-high voltage power transmission, electric vehicle chargers and new digital infrastructure. In addition, the company will take measures to ensure an annual utilisation rate of hydropower, wind and solar power over 95%. SGCC serves 1.1 billion people across 26 provinces, autonomous regions and municipalities, covering 88% of the country.
In September 2020, the State Grid Corporation of China commissioned the Zhangbei-Xiong’an 1,000 kV ultra-high voltage (UHV) alternating current (AC) power transmission and transformation project. The project entered construction in April 2019 and required an investment of CNY5.98bn (US$887m). The 315 km-long transmission line connects the renewable demonstration zone in Zhangjiakou in the Hebei province (North China) to the Xiong'an New Area. The renewable capacity in Zhangjiakou reaches 2 GW and is forecast to attain 5 GW in 2030.