National Energy Administration: 47.1% Investment Increase in Power Generation Projects in the First 10 Months

PVTIME - According to recent national power industry statistics released by the National Energy Administration, from January to October, electricity consumption in China increased by 1.8% year-on-year, and the growth rate of electricity consumption in the tertiary industry has reversed from negative to positive. Meanwhile, the cumulative average utilization hours of power generation equipment in China was 3064 hours. The utilization hours of hydropower, nuclear power, and wind power equipment increased year-on-year while the utilization hours of thermal power decreased year-on-year.

Newly Installed Power Generation Capacity in China

(January to October)

Hydropower 8.89GW
Thermal Power 34.96GW
Nuclear Power 1.12GW
Wind Power 18.29GW
Solar Power 21.88GW
Other 0.26GW
Total 85.4GW

From January to October, the country’s newly installed power generation capacity was 85.4GW, 14.2GW more than the same period last year. Hydropower, thermal power, nuclear power, wind power, and solar power accounted for 8.89GW, 34.96GW, 1.12GW, 18.29GW, and 21.88GW, respectively. In addition to nuclear power, the newly installed capacity of other types of power generation increased year-on-year as well.

At the same time, the investment in power generation projects has increased year-on-year, among which the investment in renewable energy power generation has shown rapid growth. From January to October, a total of 347.1 billion yuan was invested into power supplying projects nationwide, up 47.1% year-on-year. Specifically, hydropower generation received 71.2 billion yuan, a year-on-year increase of 10.9%; thermal power generation received 37.7 billion yuan, a year-on-year decrease of 25.4%; nuclear power generation 25.9 billion yuan, a year-on-year decrease of 0.4%; wind power 183.5 billion yuan, a year-on-year increase of 126.7%. Investment in solar generation was not included in the data.