120GW of Hydroelectric Storage by 2030 in China

China unveils ambitious plan to pump 120 MW of hydroelectric storage by 2030 to boost use of renewable energy.|China unveils ambitious plan to pump 120 MW of hydroelectric storage by 2030 to boost use of renewable energy.

Share:

China aims to develop pumped hydroelectric storage by 2035.
The country unveils an ambitious plan for more than 120 GW by 2030.

China boosts renewable energy development

This Thursday, September 9, 2021, China publishes a plan setting out measures to develop its pumped hydro storage system by 2035.
With the aim of boostingrenewable energy consumption and ensuring stable grid operation.
The country aims to launch over 62 GW of pumped hydro storage by 2025 and 120 GW by 2030.
All the while establishing globally competitive companies.
That they use advanced technologies as industry leaders by 2035 declares the National Energy Administration (NEA).
China is also preparing for the closure of 40,000 hydroelectric power plants.
The country is seeking to limit the scattering of small and medium-sized hydropower plants.
This is in response to the serious risk of a shortage of water capacity in China.

Eco Wave Power has completed the installation of floaters for its pilot project in Los Angeles, marking a strategic milestone in the validation and commercialisation of its wave energy technology in the US market.
Baker Hughes is set to acquire Chart Industries for $13.6bn, surpassing Flowserve’s offer and ending the previously announced merger between Chart and Flowserve, according to sources close to the matter.
Spanish energy group Endesa reports strong first-half profit growth but warns of insufficient incentives in the new grid remuneration framework proposed by the CNMC.
Kenya registers a historic record in electricity consumption, driven by industrial growth and a strong contribution from geothermal and hydropower plants operated by Kenya Electricity Generating Company PLC.
The French group posted higher sales and profitability while setting a new record for its investment backlog, driven by the electronics and energy transition sectors.
Bureau Veritas completes acquisitions in cybersecurity in Denmark, nuclear in Germany, and transition services in South Korea, further strengthening its coverage of strategic high-growth markets.
Macquarie finalises the acquisition of Erova Energy, further strengthening its capabilities in the management and optimisation of renewable assets in the United Kingdom and Ireland amid rapid sector growth.
Final energy consumption in the European industrial sector dropped by 5% in 2023, reaching a level not seen in three decades, with renewables taking a growing role in certain key segments.
An agreement between Iberdrola and Echelon provides for the creation of a joint venture dedicated to the development of data centres in Spain, including an initial 144 MW site in Madrid, strengthening integration between energy and digital infrastructure.
TenneT strengthened its investments in electricity infrastructure in the Netherlands and Germany, reaching EUR 5.5 bn over six months, while a decision on the financing structure of its German subsidiary is expected in September 2025.
Eni is considering increasing its share buyback programme after financial results exceeded expectations, with reduced debt and revised annual targets in the gas segment.
Réseau de transport d’électricité is planning a long-term modernisation of its infrastructure. A national public debate will begin on September 4 to address implementation methods, challenges and conditions.
Despite a sharp decline in sales and prices, Vallourec improved its profitability and issued an upward forecast for its gross operating income in the second half of 2025.
Eni announces a sharp decline in quarterly net profit, the result of lower oil prices and a weaker dollar, while maintaining a strengthened dividend policy and a development trajectory in renewables.
EDF is reassessing its industrial priorities and streamlining investments, as net profit falls to €5.47bn ($5.94bn) in the first half of 2025 due to a weakening electricity market.
Energy group Edison posts increased sales and investments despite a less favourable market environment, advancing its renewables development and strengthening its positions in Italy.
SEGULA Technologies opens an office in Cape Town, strengthening its presence in the African market and targeting expansion in energy, rail, and automotive sectors, in partnership with South African industrial firm AllWeld.
GE Vernova's revenue rose by 11% in the second quarter, driven by momentum in its Power activities, as the US group raised its financial targets for 2025.
The Allrig group is expanding its operations in Saudi Arabia, supported by AstroLabs, to boost energy efficiency and address the growing needs of the local oil sector.
Saipem and Subsea7 formalise their merger agreement, resulting in the creation of Saipem7, an international energy services player with consolidated revenue of €21bn and an order backlog of €43bn.