China's State Grid plans to invest more than 150 billion yuan ($22 billion) in the second half of 2022 in ultra high voltage (UHV) power transmission lines, state media Xinhua News reported on Wednesday, citing the company's chairman Xin Bao'an.
Construction of eight new UHV projects is planned to connect China's far western regions, where solar, wind and hydropower plants are mainly located, to its big cities.
The new projects are expected to drive demand for raw materials including copper and aluminium, and help China rev up its economic growth.
As of June, State Grid had 11 UHV power transmission lines under construction involving investment of total 90 billion yuan.
"(We) will carry out research on power transmission from major renewable bases in the Gobi and desert area ... which would lay a foundation of further expanding efficient investment," said Xin.
China plans 450 gigawatts of solar and wind power generation capacity in the Gobi and other desert regions to meet most of its new energy demand and help achieve its climate goals.
($1 = 6.7518 Chinese yuan renminbi)
