【SMM New Energy News】NEA: Grid Fixed-Asset Investment to Hit 5T Yuan in 15th FYP

Wan Jingsong, Deputy Director and Spokesperson of the NEA, stated at a SCIO press briefing that the 15th FYP will focus on three key areas to accelerate the deployment of new energy infrastructure: first, speeding up infrastructure to facilitate renewable development, constructing clean energy bases like wind-solar hubs in northern China and integrated hydro-wind-solar bases in the southwest, and developing direct green power supply based on local conditions; second, enhancing new energy integration and consumption capabilities, accelerating the buildout of new-type power grids, and boosting source-storage regulation capacity by over 40%; and third, further accelerating the deployment of new energy infrastructure in other sectors.

The SCIO released the overall targets of the 15th FYP for New Energy System, aiming to initially establish a clean, low-carbon, secure, and efficient energy system by 2030. China's installed power capacity has surpassed 4 billion kW and is projected to reach 5.4 billion kW by 2030. Renewable energy will exceed 50% of the total capacity to become the mainstay, while non-fossil generation will hit 50% as the main power supply. Coal and oil consumption will also peak by then.

The SCIO scheduled a press conference on June 26 regarding plans for accelerating the new energy system during the 15th FYP period. Zhejiang Province issued a notice to optimize commercial and industrial time-of-use (TOU) electricity tariffs, effective July 1. GFEX will officially introduce overseas traders to lithium carbonate futures and options trading on July 3.