context: State Grid is the world's largest power utility company, supplying power to over a billion people. Over the next 5-year plan period, it will be key to resolving the challenges of building a new energy and power system centred on renewables.
During the 15th 5-year plan, State Grid expects to invest C¥4 tn in fixed-asset investment, a 40 percent increase over the 14th 5-year plan. The investment aims to drive high-quality development of the new power system.
State Grid told reporters that it will
- align with Beijing's NDC (Nationally Determined Contribution) targets
- support annual increases of 200 GW of wind and solar capacity within its service areas
- promote increase in the share of non-fossil energy consumption to 25 percent, and raise electricity's share of terminal energy consumption to 35 percent
- enhance system flexibility and regulation capacity
- improve the layout of pumped-storage hydro and support large-scale development of new energy storage
- improve grid integration of renewable energy
- facilitate the development of zero-carbon factories and industrial parks
- establish a new power grid platform
- refine coordination between transmission, distribution and microgrids
- strengthen power transmission from west to east and from north to south
- accelerate ultra-high voltage DC transmission corridors to support transmission of clean energy from large-scale renewable and hydropower bases
- increase interregional and interprovincial transmission capacity by more than 30 percent compared to the 14th 5-year plan
- improve distribution networks in urban, rural and remote areas
- explore end of the line supply oriented, off-grid and microgrid models
- strengthen digital and intelligent infrastructure ('AI+' initiative and digital empowerment of the grid)
- intensify efforts in key and core tech breakthroughs
- develop new quality productive forces
- integrate tech and industrial innovation
- become a globally influential source of innovation in the energy and power sectors
- emphasise investment efficiency and quality
- serve as the foundation of economic and social operations
- continue to play the role of stabiliser in the national economy
- ensure national security and contribute to new energy system construction