The State Grid Corporation of China, which covers over 80% of the country’s power grid, has raised its planned investments for this year to a record-high of $82.7 billion 600 billion Chinese yuan to boost transmission lines from the key renewable-generation centers to demand hotspots. The corporation has recently lifted by 13% its budget spending for 2024, according to the Economic Information Daily cited by Bloomberg.
Energy security and the need for stable power generation during peak demand to back the growing economy and supply stability precede concerns about emissions. Despite continued growth in coal-fired power generation, China reached a momentous milestone in clean energy in the first half of this year, as rising hydropower, solar, and wind output pushed down the share of coal in power generation to below 60% for the first time ever.
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