China to invest nearly $900 billion in power grids

China will invest close to $900 billion in the next five years to help further develop the country’s power grids, reported Reuters.

Investments in power grids and related industries are expected to exceed RMB 6 trillion ($896 billion) in 2021-2025, Xinhua state news agency reported, citing Mao Weiming, chairman of the State Grid Corp of China, the country’s biggest power utility.

The investments will center on areas such as ultra-high voltage power transmission, electric vehicle chargers and new digital infrastructure, Mao said.