Others News
- Southern Power to expand network
Date: 29-Jan-2007 Sources: (Shenzhen Daily)
CHINA Southern Power Grid Co., the smaller of the nation's two electricity distributors, plans to spend 41.3 billion yuan (US$5.3 billion) this year to expand its grid network in order to ensure steady supply.
The company will build 10,977 kilometers of high-voltage power grids, the Guangdong-based company said in a statement on its Web site yesterday. Each transmission line will have a capacity of more than 220 kilovolts, it said.
China had a fourth straight year of power shortages in 2006 as economic growth, which topped 10 percent in each of the past 4 years, pushed demand beyond generating capacity. Southern Grid transmits electricity in the five southern provinces of China including Guangdong, the country's manufacturing hub, Guangxi, Guizhou, Yunnan and Hainan.
The company has spent a total of 122.7 billion yuan to improve grids in the four years since it was established in 2002, it said. Electricity supply and demand in the southern region may reach a balance in the third quarter, the company said.
China plans to invest 200 billion yuan annually to expand and upgrade its power grid network, Southern Grid said Jan. 18. The nation's spending on power plants is about 500 billion yuan every year, it said.
The company sold 395.6 billion kilowatt-hours of electricity in 2006, boosting sales to 219.6 billion yuan, the China Electric Power News, run by the nation's power industry watchdog, the State Electricity Regulatory Commission, said Jan. 15.
Southern Grid plans to sell shares on the Hong Kong and Shanghai stock exchanges, The Standard, an English-language newspaper based in Hong Kong, said Nov. 21, citing Southern Grid chairman Yuan Maozhen.
China's power demand may rise 12.5 percent to 3.18 billion megawatt hours this year, State Grid Corp. of China, Southern Grid's larger rival, said in a report yesterday. State Grid supplies electricity to the rest of China.
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