• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 hours How Far Have We Really Gotten With Alternative Energy
  • 6 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 19 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
40 Companies Join Race for Natural Hydrogen Deposits

40 Companies Join Race for Natural Hydrogen Deposits

White hydrogen, a naturally occurring…

China Starts Construction Of $22B Expansion Of Transmission Line Network

China’s largest utility will soon begin the construction of some $22 billion of new long-distance, ultra-high-voltage transmission lines to connect more wind and solar installations to the grid.

State Grid Co., according to a Bloomberg report, supplies power to more than 1 billion people and is the biggest builder of ultra-high-voltage transmission lines in the world.

China plans to build a total of 1,200 GW in wind and solar capacity by 2030 to meet its emission reduction targets. In line with these plans, the country is expanding its grid with transmission lines to carry the low-carbon energy from the unpopulated areas where wind and solar farms are built to its megacities.

According to some estimates cited by Bloomberg last year, this grid expansion undertaking will take 30 years and cost around $300 billion. Currently, China has 30 ultra-high-voltage transmission lines in operation and is one of only two countries to have them. The other is Brazil, with two UHV lines, both built by a Chinese company.

China is the biggest investor in renewable energy in the world as well as the biggest emitter. In the first half of the year, China once again led in terms of investments, spending $98 billion on wind, solar, and other low-carbon energy sources.

This was as much as 128 percent higher than investments in the first half of 2021 and far ahead of the second-biggest renewable spender, the U.S., which only invested $12 billion in the first half of the year.

“Policy makers are increasingly recognizing that renewable energy is the key to unlocking energy security goals and reducing dependence on volatile energy commodities,” BloombergNEF’s head of analysis Albert Cheung said, as quoted by MarketWatch this week.

“Despite the headwinds presented by ongoing cost inflation and supply chain challenges, demand for clean energy sources has never been higher, and we expect that the global energy crisis will continue to act as an accelerant for the clean energy transition,” he added.

ADVERTISEMENT

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News