State Power Investment Corporation Achieves Record 72.71% Clean Energy Share in Installed Capacity

At the 2025 Annual Work Conference, the State Power Investment Corporation (SPIC) announced that its clean energy share in total installed capacity reached a new record of 72.71% in 2024, a 2.82 percentage point increase from 2023.

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At the 2025 Annual Work Conference, the State Power Investment Corporation (SPIC) announced that its clean energy share in total installed capacity reached a new record of 72.71% in 2024, a 2.82 percentage point increase from 2023. The company’s clean energy investments exceeded 170 billion RMB, marking a 7% year-on-year rise. The total installed capacity of clean energy projects under construction surpassed 28 million kilowatts, an 8% increase from the previous year. The new additions in clean energy capacity continued to grow steadily, approaching 28 million kilowatts. The scale of new energy projects, wind power construction, and the approval of offshore wind projects all set historical highs.

Significant progress was also made in nuclear power. The first unit of the “Guohe No. 1” demonstration project successfully achieved its first grid-connected power generation. The Bai Long nuclear power project in Guangxi received approval to begin its first phase of construction, while the Lianjiang nuclear project in Guangdong entered a new phase with “dual-unit” construction. Construction of units 3 and 4 at Haiyang Nuclear Power Plant is progressing smoothly. By the end of 2024, SPIC had eight nuclear reactors under construction.

In wind power, the scale of projects under construction surpassed 10 million kilowatts for the first time, doubling compared to 2023. Full capacity was successfully connected to the grid for both the second phase of the South U site on Shandong Peninsula and the capacity expansion project in Xuwen, Guangdong. The Dalian Huayuankou project in Liaoning also broke ground. By the end of 2024, SPIC maintained the largest offshore wind capacity in Shandong and achieved a significant milestone in Fujian, further solidifying its leadership in offshore wind power.

In hydropower, the Yangqu Hydropower Station on the upper Yellow River, with an installed capacity of 1.2 million kilowatts, was fully commissioned. As a key peak-shaving power source for China’s ±800 kV “Qingyu DC” ultra-high-voltage transmission corridor, it will play an important role in supporting the large-scale development and use of renewable energy in Qinghai Province.

Looking ahead to 2025, SPIC aims to push the share of clean energy in its installed capacity to over 75%. The company plans to keep the approval, construction, and commissioning of new energy projects at high levels, with new energy capacity additions expected to rise by 3% year-on-year, setting yet another historical record.