State Grid South Grid achieves double-digit growth in fixed asset investments

Yuan Bo

BEIJING, April 3 (People’s Daily) (Reporter Ding Yiting): In the southwestern region, the start of construction was held for the 1,000-kilovolt ultra-high-voltage alternating-current project in the Panzhihua–Xichang area. The route runs through Liangshan, Yibin, and Leshan in Sichuan. The newly built lines have a total length of 994 kilometers, and along the route the highest elevation exceeds 3,600 meters. Once completed, it will significantly enhance the Panzhihua–Xichang region’s capacity for dispatching clean energy to other areas. In the middle of the Beibu Gulf, the 220-kilovolt cross-sea power interconnection project has been put into operation, marking that power supply to Weizhou Island in Guangxi has bid farewell to isolated grid (standalone) operation and achieved interconnection with the main power grid by “joining hands”… Since the beginning of this year, a number of key power engineering projects have been actively advanced.

In the first quarter, the State Grid completed fixed-asset investment of more than 129 billion yuan, up 37% year on year, driving investment across the upstream and downstream of the industrial chain to exceed 250 billion yuan. Of this, investment in new-energy grid-connection projects exceeded 10 billion yuan, up more than 50%. Investment in the distribution grid was completed at 56.8 billion yuan, accounting for 55% of investment in power grids at all levels, and the reliability of power supply and the quality and effectiveness of services in both urban and rural areas have continued to improve.

In the first quarter, China Southern Power Grid completed fixed-asset investment of 38.45 billion yuan, up 49.5% year on year. Of this, in the first quarter, investment in the Zang–Yue (Tibet–Guangdong) HVDC project was completed at twice the original plan. Currently, the overall progress of the “three connections and one leveling” for the Zang–Yue HVDC small Jing converter station and the central converter station has reached 20%. The overall progress of the “three connections and one leveling” for the Xiang–Qian back-to-back converter station has exceeded 25%. The Hainan–Guangdong power flexible mutual-aid project has obtained approval and water-and-soil conservation approvals ahead of schedule.

《 People’s Daily 》( April 04, 2026 , Edition 01 )