Energy
Smart grid project generates local buzz
By Liu Yiyu (China Daily)
Updated: 2010-06-10 10:45
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Domestic companies from various sectors are lining up for slice of pie
Beijing - While foreign conglomerates like General Electric (GE) and IBM are ramping up initiatives in one of the world's largest smart-grid markets, Chinese companies are also competing to get a piece of the action.
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State Grid employees check equipment in Huaibei, Anhui province. Realizing the market potential of China’s smart grid sector, the State Grid hopes to get a foothold in the business by acquiring electrical-equipment makers. [PROVIDED TO CHINA DAILY] |
China plans to invest 4 trillion yuan ($586 billion) in smart-grid construction by 2020, according to State Grid Corp, the main operator of this project. The money will be allocated to incorporating and storing power generated from wind and solar energy, monitoring power transmissions, intelligent substations, power storage, electric-vehicle charging and automatic power distribution, smart meters, and information systems for electricity utilization and intelligent dispatch.
Smart grid construction will contribute 1 percent to the growth of China's gross domestic product annually over the next five years, said Wu Jiandong, chief energy expert of the Chinese Academy of Sciences.
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Shenzhen-based Clou Electronics Co, a private maker of smart meters, is one of the first direct beneficiaries of China's smart grid project. The company has won 180 million yuan worth of orders from the State Grid recently, representing over 40 percent of its revenue in 2009, according to Clou's spokeswoman.
Boosted by market demand, the company said it aims to obtain 1 billion yuan in new orders this year.