SDIC powers up cleaner energy
To contribute more to realizing the nation’s goal of building a beautiful China, the State Development and Investment Corp, a leading investment arm of the country in infrastructure and resources, has big plans for renewable and clean energy development in the coming years.
“SDIC regards energy conservation and environmental protection through clean and renewable energy resources as major investment targets,” said Wang Huisheng, chairman of SDIC.
SDIC is investing 400 billion yuan ($65.57 billion) to build 21 hydropower stations along the Yalong River in Sichuan province. The development of the hydropower stations by the Yalongjiang Hydropower Development Co Ltd, a holding company of SDIC, is an important part of SDIC’s clean energy investment drive. When completed, the stations will have a combined generating capacity of 30 million kilowatts.
On Friday, the third generator with an installed capacity of 600,000 kilowatts at the Jinping 1 Hydropower Station at the Yalong River was put into operation, bringing the total hydropower generation capacity of the Yalongjiang Hydropower Development Co Ltd to 10.5 million kilowatts, a milestone for the development of the company, according to senior SDIC officials.
The hydropower facilities can now generate 45 billion kilowatt- hours of electricity a year, equivalent to half of Beijing’s annual electricity consumption or a reduction of 14.85 million tons in the use of standard coal.
According to the SDIC officials, this can help cut 37.12 million tons of carbon dioxide emissions and 5.26 million tons of solid waste residues, contributing greatly to environmental protection and pollution reduction.
The Yalongjiang Hydropower Development Co has been authorized by the central government to take charge of the development of hydropower resources along the entire Yalong River valley, making it the first and only such company in the country.
The river is a very fruitful hydropower resource, as the 1,571-kilometer Yalong River has a total fall of 3,830 meters.
With some of the Jinping 1 station now in operation, SDIC’s total installed generating capacity of clean and renewable energy is 13.22 million kilowatts, of which 12.52 kilowatts are hydropower while 702,000 kilowatts are wind power and photovoltaic power, according to the corporation.
Clean and renewable power generation now accounts for 46 percent of the corporation’s total power generation capacity.
Wang, who is also chairman of the Yalongjiang Hydropower Development Co Ltd, said on Friday that in 2014, six more turbines each with an installed capacity of 600,000 kilowatts will be put into operation.
By then, the total installed hydropower generation capacity of the Yalongjiang hydropower company will be 14.1 million kilowatts, making the company the country’s second-largest hydropower generator after the Three Gorges Dam.
This will also contribute greatly to Sichuan’s goal of becoming the country’s largest clean energy base, promote the implementation of the country’s strategy of transmitting electricity from the western region to the economically developed eastern region, and realize the nation’s goal of building a beautiful China, Wang said.
Founded in 1995, SDIC is a State-holding investment corporation with the approval of the State Council and a major enterprise directly under the administration of the central government.
In 2012, its profits reached 11.2 billion yuan and it had total assets of 311.5 billion yuan. SDIC is making constant efforts to become China’s equivalent of Temasek Holdings, the investment company owned by the Government of Singapore.
SDIC also plans to invest 30 billion yuan in a shale gas project in Chongqing, as well as coal dock and coal storage base projects.