China to boost power grid investments by 68%

The State Grid Corp of China plans to increase investments in the country's power grid by 68% in a five-year plan.

China plans to invest RMB2.55 trillion or $390.63 billion, of which RMB500 billion or $76.59 billion will be spent on the construction of ultra-high-voltage power transmission lines and supporting distribution networks.

The rest of the RMB1.5 trillion or $229.78 billion will be used to construct conventional power lines and networks, reports Reuters.

China plans to construct a network of ultra-high-voltage transmission lines by 2020, to be linked to the major energy production bases.