At the recently held 2021 International Forum on Energy and Power Transformation, State Grid Corporation Chairman Xin Baoan said that it plans to invest US$350 billion (about RMB 2.26 trillion) in the next five years to promote the transformation and upgrading of the power grid. Among them, US$9 billion (about RMB 58 billion) will be invested in research and development to break through the key core technologies of the new power system. As a result of this news, the special high voltage sector saw a big rise.

 

This is not the first time that this grid investment plan of over 2 trillion yuan has been disclosed. In January this year, Xin Baoan attended the World Economic Forum's "Davos Agenda" dialogue session by video and announced that over the next five years, the State Grid Corporation will invest an average of more than $70 billion annually to promote the upgrade of the grid to the energy Internet, promote clean and low-carbon energy transition, to help achieve " The company will invest an average of US$70 billion over the next five years to promote the upgrade of the grid to the energy internet, to promote a clean and low-carbon energy transition, and to help achieve the goal of "peak carbon, carbon neutral".

 

In the longer term, the company will invest around RMB 2.4 trillion in the grid during the 13th Five-Year Plan. This means that in the 14th Five-Year Plan period, State Grid's grid investment will be roughly the same as in the past five years. Prior to the outbreak of the new epidemic, State Grid's grid investment plans for 2020 had declined compared to previous years, once raising concerns that grid investment might be on the wane. In the domestic epidemic prevention and control situation tends to ease, full resumption of work and production, ultra-high voltage projects, pumped storage and other projects in the "six stable" background in the first large-scale restart, the State Grid significantly increased the 2020 grid investment scale to 450 billion yuan.

 

Facing the "carbon peak, carbon neutral" goal, the clean and low-carbon energy transition is obviously speeding up, the power grid company's investment focus has appeared some new changes.

 

Xin Baoan said at the International Forum on Energy and Power Transformation, with the double carbon process accelerated and energy transformation deepened, the power system is facing unprecedented pressure for change, the urgent need to accelerate the construction of new power system. Compared with the traditional power grid, the biggest challenge of the new power system is the new energy generation with significant randomness, volatility characteristics, small individual capacity, large number, wide distribution points, and the use of a large number of power electronic components, will bring huge challenges to the system of power balance and security and stability control. The new power system, with new energy as the main supply body, a strong smart grid as the hub platform, and source-grid, load and storage interaction and multi-energy complementarity as the support, has the ability to effectively solve the problems of large-scale grid connection and consumption of new energy generation, effectively realize the flexible access to new power facilities, plug and play, and strongly support the efficient coordination and interaction of all aspects of the source-grid, load and storage and other functions.

 

How to promote this challenging and complex system project? Xin Baoan introduces three case studies from the State Grid Corporation. Behind these cases, the company's investment directions are revealed for some time to come, with ultra-high voltage and pumped storage being the focus.

 

In terms of innovative grid development, he said that State Grid has continued to upgrade its ultra-high voltage and ultra-high voltage backbone network to enhance the grid's ability to support the large-scale development and widespread consumption of new energy. The current cross-provincial and cross-regional transmission capacity exceeds 230 million kilowatts and will be raised to 350 million kilowatts by 2030.

 

Combined with the objectives stated in the State Grid's "Carbon Peak, Carbon Neutral" action plan released in March this year, the company plans to complete seven ultra-high voltage DCs during the 14th Five-Year Plan period, with a new transmission capacity of 56 million kilowatts. By 2025, the company will have a capacity of 300 million kilowatts of cross-provincial and cross-regional power transmission in its operating areas, with a 50% share of clean energy transmission.

 

The National Energy Board issued in April this year, "2021 Energy Work Guidance" clearly requires, in order to enhance the capacity of clean energy consumption, under the premise of ensuring the safety of the power grid, promote the integration of power source network, load and storage and multi-energy complementary development, enhance the transmission channel new energy transmission capacity, and improve the proportion of clean power received into the central and eastern regions. Accelerate the construction of Shaanxi~Hubei, Yazhong~Jiangxi and other ultra-high voltage DC transmission channels, accelerate the construction of Baihetan~Jiangsu, Fujian-Guangdong networking and other key projects, and promote the preliminary work of Baihetan~Zhejiang ultra-high voltage DC project. Further improve the layout and structure of the main grid, and enhance the inter-provincial power mutual aid capacity.

 

In terms of enhancing the regulating capacity of the power system, State Grid has made concerted efforts by accelerating the construction of pumped storage power plants, supporting the large-scale application of new energy storage, guiding the power users' side to participate in peak shaving and emergency response, and actively cooperating with the renovation of thermal power flexibility.

 

At present, 28 pumped storage power plants with an installed capacity of 23.41 million kilowatts are in operation and 35 are under construction with an installed capacity of 48.53 million kilowatts, with a view to reaching an installed capacity of 100 million kilowatts by 2030. At the same time, the construction of energy storage and demand-side response will be promoted in a concerted manner, with a view to increasing the adjustable load capacity in the operating area from the current 33.2 million kilowatts to 70 million kilowatts by 2030.

 

The National Energy Administration's recently issued Medium and Long Term Development Plan for Pumped Storage (2021-2035) puts forward the target that by 2030, the total scale of pumped storage commissioned nationwide will reach around 120 million kilowatts.

 

In terms of implementing electric energy substitution in the field of terminal energy consumption, Xin Baoan proposed that the State Grid focus on key areas such as industry, transportation, construction and residential life, and promote the substitution of coal and oil with electricity. Through the implementation of supporting power grid transformation, promote electricity market transactions and other measures, vigorously promote the electric energy substitution strategy, increase the proportion of electric energy in the terminal energy consumption.

 

 Source: Surfing News

 

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