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CSG powers up with additional investment

By Xiao Yu (China Daily)
Updated: 2009-03-17 07:43

China Southern Power Grid (CSG), the second largest electricity distributor in China, will invest 71 billion yuan this year in its 20 key projects.

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About 62.2 billion yuan will be invested to reconstruct urban grids and upgrade grid infrastructure in rural areas. Roughly 8.8 billion yuan will be invested in constructing new power grids.

The investment will partly go to 11 major grid expansion projects, including improvements for a west-east power transmission project, the 500-kV Guishan Mountain-Cangjiang River-Shuixiang electricity transmission project and the 500-kV Xiaowan power plant project, the company announced on its website yesterday.

CSG said money would also go toward construction of existing key projects, including the 800-kV Yunnan-Guangdong high voltage direct current transmission project, the 500-kV submarine power link between Hainan Island and Guangdong province and construction of the Huizhou Xuneng power station.

Once the improvements on the west-east power transmission project are complete, electricity transmission capacity of western regions to Guangdong province would be boosted to 19.8 million kV. If the Yunnan-Guangdong project is put into operation, the capacity would reach 21.2 million kV.

Yuan Maozhen, chairman of CSG, said the company would increase investment by 30 percent to 102.5 billion yuan this year.

Yuan said the company was transforming itself into a joint stock company in preparation for an eventual public listing.