China Southern Power Grid ramps up H1 fixed-asset investment, advancing key energy infrastructure projects
China Southern Power Grid has recorded a historic high fixed-asset investment for the first half of the year, with accelerated project progress and strengthened industrial chain coordination across regional energy infrastructure development. The company completed a total fixed-asset investment of 89.262 billion yuan in the January-June period, representing a year-on-year increase of 14.79 percent and fulfilling 49.59 percent of its full-year target of 180 billion yuan. Investment momentum picked up notably in the second quarter, with spending reaching 50.809 billion yuan, outpacing the growth pace of the first quarter.
Major power infrastructure projects serve as the core driver of expanded effective investment. In the first six months, the company carried out 2,400 planned power transmission and transformation projects in infrastructure sectors, registering a fixed-asset investment of 68.944 billion yuan, up 17.9 percent year on year. Multiple flagship energy projects are advancing steadily across southern China regions. Construction work including site preparation for the Guangzhou Xiaojing Converter Station and Shenzhen Central Converter Station under the Xizang-Guangdong UHVDC project has exceeded half of the total workload. Construction on the Guangdong and Yunnan sections of the supporting DC power lines has officially started, while preparatory work for the Guangxi section is moving forward in an orderly manner.
The Xiangqian Back-to-Back Converter Station project has entered a critical civil construction phase, adopting mechanised, digital and green construction methods throughout the whole process to meet the key delivery deadline at the end of December. The overall construction progress of the Yangjiang Sanshandao Offshore Wind Flexible DC Transmission Project has reached 82 percent. Upon completion and operation, the project will substantially improve offshore wind power delivery capacity and facilitate the low-carbon upgrading of Guangdong’s energy structure.
The investment expansion continues to release multiplier effects and drive coordinated development of upstream and downstream industrial chains. China Southern Power Grid accelerated bidding and procurement procedures in the first half of the year, achieving a total procurement scale of 126.7 billion yuan to guarantee full-speed project construction. The second quarter saw project material supply volume hit 36.6 billion yuan, rising 19.2 percent year on year. A total of 32.9 billion yuan of material payments were fully settled in the first six months, with a year-on-year growth of 11 percent, effectively stimulating market vitality.
Efficient and targeted investment continues to boost coordinated development of electrical equipment manufacturing and other related industries, unlocking comprehensive economic, industrial and social value. The company’s investment layout will further expand during the 15th Five-Year Plan period, with the total investment scale poised to approach one trillion yuan and drive upstream and downstream industrial chain investment of around two trillion yuan.
China Southern Power Grid will seize the prime construction window in the second half of the year to press ahead with major project construction, industrial chain upgrading and green energy transformation. Sustained progress in infrastructure optimisation will consolidate regional energy supply security and underpin high-quality economic and social development across its service areas.
