China’s SPIC targets 8 GW overseas power capacity by 2020
FILE – In this Oct. 9, 2015 file photo, solar panels are seen near the power grid in northwestern China’s Ningxia Hui autonomous region. Increasing amounts of green electricity have gone unused in China as it struggles to integrate wind and solar power into a dated electricity network dominated by coal. (AP Photo/Ng Han Guan, File)
INTERNATIONAL – China’s State Power Investment Corp (SPIC) aims to boost its overseas power generation capacity to 8 gigawatts (GW) by 2020 and to 40 GW by 2030, the company said in a corporate report on Tuesday.
It will target developed countries and developing nations alongside the Belt and Road for investment and acquisition, the company said.
SPIC will focus on South Africa and Turkey for nuclear power projects, Belt and Road countries and African countries for coal-fired power projects, Asia-Pacific countries for hydropower projects and developed countries in Europe and America for new energy projects, according to the report.
By the end of 2017, SPIC had total installed power generation capacity of 3.01 GW and 12.9 GW under construction in overseas market.
It said will also actively seek bauxite and uranium resources in overseas market.
– REUTERS
Source: iol.co.za
