China to invest nearly $900 billion in power grids

BEIJING: China will invest close to $900 billion in the next five years to help further develop the country's power grids, the official Xinhua News Agency reported on Saturday.

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

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