State Power Investment Corporation (SPIC) (国家电力投资集团)

SPIC has a total installed capacity of 35 million kilowatts (kW) of photovoltaic power generation, 35 million kW of wind capacity and 23.99 kW of hydropower, all ranking the company in leading positions in China and the world. It also innovates and invests in hydrogen fuel cells and smart power plants and accelerates the layout of the integrated smart energy industry. It announces targets to scale up low-carbon electricity capacity, though details on its deployment schedule and capital expenditure are not known. Providing this information will strengthen its transparency and help its low-carbon transition.

Between 2015 and 2020, SPIC’s emissions intensity has decreased by 7%. However, this only represents about one-third of the rate required by its 1.5°C pathway between 2020 and 2025. Its emissions intensity is projected to annually decrease by around 7% between 2021 and 2025, which is aligned with the company’s 1.5°C pathway. It is projected to currently exceed its carbon budget by 23% in 2035. The company’s efforts to further increase its low-carbon electricity capacity will improve its performance in the low-carbon transition.

SPIC includes renewable energy development as one of its key pillars. It made announcements of its plan to achieve carbon peaking by 2023. It plans to increase its low-carbon electricity capacity proportion to 60% in 2025 and 75% in 2035. No specific emissions reduction target is found.

By 2025, SPIC plans to reach 220 million kW installed power capacity and increase the proportion of clean energy installed capacity to 60%. By 2035, the company plans to reach an installed power capacity of 270 million kW and increase the proportion of clean energy installed capacity to 75%.

In 2020, SPIC already achieved a low-carbon electricity capacity of 50%. Capital expenditure figures were not found.

Between 2015 and 2020, SPIC’s emissions intensity decreased by 7%. However, this only represents about one-third of the rate required by its 1.5°C pathway between 2020 and 2025.

The company has actively developed electricity from diverse low-carbon sources, including solar, wind and hydropower, and it currently is developing nuclear capacity. The company aims to further strengthen its efforts in scaling up low-carbon electricity capacity, which will help its low-carbon transition.