State Grid plans massive investments for 15th Five-Year Plan

State Grid Corporation of China expects to invest 4 trillion yuan ($553 billion) in fixed assets during the 15th Five-Year Plan period (2026–2030), a 40 percent increase over the previous cycle, in order to accelerate the development of a high-quality supply chain for its new power system.

The massive capital expenditure aims to align with China's national climate goals, with the utility giant targeting an annual increase of around 200 gigawatts (GW) in wind and solar capacity within its operating zones.

By 2030, the company expects non-fossil energy to account for 25 percent of total consumption, while electricity is projected to reach 35 percent of terminal energy consumption, it said.

To support this influx of intermittent renewable energy, State Grid plans to optimize the layout of pumped-storage hydropower sites and support the large-scale development of new energy storage technologies. These measures are designed to enhance grid stability and improve the integration and consumption of green power, it said.

The utility also intends to consolidate its west-to-east energy transmission networks.

By accelerating the construction of Ultra-High-Voltage (UHV) direct current export channels, the company aims to boost cross-regional and cross-provincial power transmission capacity by more than 30 percent compared to levels at the end of 2025.