China’s State Grid Corporation has announced that it will invest CNY500bn (US$70bn) in grid network construction in 2024 to develop ultra-high voltage (UHV) lines, ensure power supply stability and boost renewable power consumption in China. State Grid Corporation expects to complete six UHV AC lines in 2024 and start several new UHV projects. UHV transmission lines refer to power transmission cables operating with greater than 800 kV of direct current, or 1,000 kV of alternating current.
State Grid Corporation is one of the largest utilities in the world and handles around 80% of China’s total electricity supply. The state-owned company plans to complete construction of 38 UHV projects during China’s 14th Five-Year Plan (2021-25) period.
China, which vows to peak carbon emissions before 2030 and achieve carbon neutrality before 2060, has pledged to build a new power system to accommodate the rising share of renewables in the country.