China’s Mega-Dams Doused by Heavy Rains in Clean Energy Boost
- Yangtze Power’s market cap fast approaches $100 billion
- Hydro’s revival follows two years of drought-hit output
The Three Gorges Dam area after a heavy rain in Hubei province in May.
Photographer: CFOTO/Future Publishing/Getty Images
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Deadly rains in China that have damaged farming and infrastructure are feeding a recovery in the world’s most powerful dams, boosting clean energy generation and sending hydroelectric stocks to record highs.
Hydropower generation rose 8.4% in the first four months from the previous year, and more rain than normal is expected in the Yangtze River basin this summer. China Yangtze Power Co. was among the hydro stocks that ended last week at record highs, and China’s biggest dam company is fast closing in on $100 billion in market value.