China to invest nearly $900b in power grids: State media

China will invest near $900 billion in the next five years to help further develop the country’s power grids, reports Reuters on Saturday citing the country’s official Xinhua News Agency.

Investments in power grids and related industries are expected to exceed 6 trillion yuan ($896 billion) in 2021-2025, Xinhua reported, citing Mao Weiming, chairman of the State Grid Corp of China, the country’s biggest power utility.

The investments will centre on areas such as ultra high voltage power transmission, electric vehicle chargers and new digital infrastructure, Mao said.