CATL bids on hydropower as China seeks private infrastructure investment

China’s private sector is increasingly taking part in public infrastructure, with battery giant CATL joining a newly announced hydropower project, reports the South China Morning Post. This comes as Beijing encourages private investors to enter fields once dominated by state funding.

CATL will partner with a subsidiary of the state-owned SDIC Power Holdings to build a RMB 33.4 billion ($4.9 billion) hydropower plant in southwestern Sichuan province. The battery maker will hold a 10% stake in the joint venture.

The project would have an installed capacity of 2.4 gigawatts (GW) and an estimated annual output of 8.65 billion kilowatt-hours, with the first unit expected to begin operations in 2035, according to an announcement by SDIC Power on Monday.