China Grid Giant Plans Record Spending to Ease Power Bottlenecks
- State Grid lifts budget to $83 billion to build up its network
- Improved connections will support delivery of renewable supply
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China’s main grid operator will raise spending to a record to ease transmission bottlenecks, underscoring Beijing’s push to boost renewable-energy usage and potentially benefiting metals including copper.
State Grid Corp. of China, which covers more than 80% of the country, will increase spending 13% to 600 billion yuan ($83 billion) this year, the Economic Information Daily reported, citing a budget plan. That follows an announcement from smaller peer, China Southern Power Grid Co., that it will lift capital spending for network upgrading by more than half by 2027.