Power firm seeks to lift grid investment
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China Southern Power Grid Corp, the smaller of the mainland's two state-owned power distributors, aims to boost investment in grid networks by almost a third in the next five years.
The company, which runs networks in five provincial areas in south China, said it has earmarked 400 billion yuan (US$61 billion) to invest in grid networks between 2011 and 2015, up 32 percent from 302.3 billion yuan it spent in the past five years.
China has been improving its grid coverage so that more homes will have access to electricity and is also investing in power network that is generated by renewable sources like wind.
Southern Power Grid said about 28 percent of the proposed 400 billion yuan investment will go to rural areas. The company, which also has some power generating assets, last week said it plans fixed-asset investment of more than 500 billion yuan during the five-year period.
