China's Power Grid Investment Reaches Approximately $45.63 Billion in First Half of 2026

Beijing | EcoPulse24

China's State Grid invested more than 310 billion yuan, approximately $45.63 billion, in fixed assets during the first half of 2026, supporting transmission expansion, renewable energy integration, and grid modernization.

China's State Grid Corporation, the world's largest utility company, completed more than 310 billion yuan (approximately $45.63 billion) in fixed-asset investment during the first half of 2026, representing a 12.6% year-over-year increase, the company said.

The investment supported the expansion of electricity transmission networks, the strengthening of urban and rural power grids, and the integration of renewable energy resources into the power system.

Several major electricity transmission projects using ultra-high-voltage (UHV) technology entered operation or began construction during the period, according to Xinhua News Agency.

Renewable Energy Integration Advances

State Grid continued expanding its pumped-storage hydropower infrastructure, with 76 pumped-storage hydropower stations either in operation or under construction.

The company said the total installed capacity under its management exceeded 95 million kilowatts.

Meanwhile, the combined installed capacity of grid-connected wind and solar power in areas served by State Grid reached 1.55 billion kilowatts during the first half of the year.

Electricity Market Transactions Continue to Grow

Market-based electricity transactions across the regions served by State Grid totaled 3.48 trillion kilowatt-hours during the first half of 2026, an increase of 25.6% from a year earlier.

Cross-provincial green electricity trading also expanded, with trading volume rising 23% year-over-year to 64.1 billion kilowatt-hours.

Summer Electricity Demand Hits Record Levels

Since the beginning of the summer peak-demand season, electricity load across State Grid's service areas reached record highs on two occasions, peaking at 1.27 billion kilowatts.

The company said it intensified cross-regional electricity transmission and emergency response measures to help ensure reliable power supplies during periods of exceptionally high demand.

China's total electricity consumption reached 10.37 trillion kilowatt-hours in 2025, surpassing 10 trillion kilowatt-hours for the first time. The number of industrial and residential electricity customers also approached 800 million, the highest level in the world.

Key Figures

EcoPulse24 Analysis

State Grid's investment program reflects China's continued commitment to expanding and modernizing its electricity infrastructure as power demand and renewable energy capacity continue to grow.

The rollout of ultra-high-voltage transmission projects, together with the expansion of pumped-storage hydropower facilities, is intended to strengthen long-distance electricity transmission, improve grid flexibility, and facilitate the integration of larger volumes of wind and solar generation.

The continued growth in market-based electricity transactions and cross-provincial green electricity trading also highlights China's efforts to deepen electricity market reforms while supporting the country's long-term energy transition and energy security objectives.