China increases grid investment to support renewable energy surge
China is significantly increasing its grid investment to ensure efficient delivery of renewable energy to homes and businesses. According to the National Energy Administration, power transmission spending rose 19% to 529 billion yuan ($72 billion) in the first 11 months of 2023, marking a shift towards grid infrastructure, as reported by Bloomberg. Investment in new power capacity was larger at 866.5 billion yuan, showing a 12% increase. This marks the first time since 2018 that…