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The total investment during the "14th Five-Year Plan" period is expected to reach 380 billion yuan

According to the power grid construction plans of State Grid, China Southern Power Grid, and Inner Mongolia Power Grid, it is estimated that the cumulative investment during the "14th Five-Year Plan" period will be close to 3 trillion yuan, higher than the 2.8 trillion yuan during the "13th Five-Year Plan" period. According to China Energy News, during the "14th Five-Year Plan" period, the State Grid's UHV investment may reach 380 billion yuan, or it is expected to become an important structural increase in power grid investment.

Analysis of Concentration Degree of UHV Grid

The Central Economic Work Conference has made it clear that infrastructure investment should be carried out moderately ahead of time; to accelerate the promotion of major projects in the "14th Five-Year Plan" and "Outline", to focus on "two new and one heavy" new infrastructure, new urbanization and other major projects and areas to make up for shortcomings effectively invest.

The country is now advocating a centralized new energy development path, which mainly relies on resource-rich areas such as Inner Mongolia, the five northwestern provinces, and the northeast, and is destined to be transported through trans-provincial UHV. Since the construction period of new energy power supply is about 6-12 months, and the construction period of UHV is 18-24 months, the progress of the channel must keep up with the base project, and the construction of UHV must be accelerated.

Prospects of the domestic UHV power grid industry

The distribution of renewable energy resources in China is uneven, and the resource endowment and power consumption are in reverse distribution. The two main reasons for the abandonment of wind and solar in the northwest region are the insufficient peak shaving capacity of the power grid and the limited long-distance transmission capacity. In response to the problem of long-distance power transmission, UHV power grid construction should be carried out in a planned way to break the barriers of inter-provincial power transmission and achieve cross-province and cross-regional power transmission.

From January to June 2021, my country's new photovoltaic grid-connected capacity was 13.011GW; by the end of June 2021, my country's cumulative photovoltaic grid-connected capacity was 267.086GW, of which 180.032GW were centralized photovoltaic power plants and 87.054GW distributed photovoltaic power plants. In the second quarter, the national wind power generation was 170.5 billion kWh, a year-on-year increase of 38.7%; the UHV power generation was 88.8 billion kWh, a year-on-year increase of 18.4%. From January to June, the cumulative power generation of wind power and photovoltaics nationwide was 500.8 billion kWh, a year-on-year increase of 37.1%, accounting for 12.9% of the total power generation, an increase of 1.9 percentage points year-on-year.

State Grid will improve the UHV and UHV backbone grids to enhance the power grid's ability to develop and absorb new energy on a large scale. Up to now, the State Grid has built a total of 27 UHV power transmission projects, with a maximum transmission distance of 3,300 kilometers, and a cross-provincial and cross-regional power transmission capacity of 230 million kilowatts. The State Grid also revealed that during the "14th Five-Year Plan" period, the new inter-regional transmission channels of the State Grid will mainly transmit clean energy, and it is planned to build 7 circuits of UHVDC, with an additional transmission capacity of 56 million kilowatts.

As an important part of the UHV ring network in Central China, the Nanchang-Changsha 1000 kV UHV AC project is the first UHV AC project to be started during the national "14th Five-Year Plan" period. The total investment of the project is 10.2 billion yuan, and the new substation capacity is 12 million kVA, which will meet the increasing power demand in Hunan and the needs of power structure transformation.

Among the seven major fields of new infrastructure, China, as the only country in the world that has realized the commercialization of UHV projects, has relatively mature related technologies and has an international leading edge. At present, my country has built more than 10 interconnected transmission lines with neighboring countries. On this basis, it will further promote the interconnection of power grids with neighboring countries such as Russia, Mongolia, and Pakistan. It is planned to build 9 power grids with UHV technology as the core by 2030. Transnational power transmission projects.