Deep Dive | Six Networks · New-Type Power Grid: RMB 5 Trillion Investment, Logic, Expectation Gaps, and Beneficiary Targets

English summary

### Deep Dive | Six Networks · New-Type Power Grid: RMB 5 Trillion Investment, Logic, Expectation Gaps, and Beneficiary Targets Time: 2026-07-31 09:01:49 Content: 1. What is a new-type power grid? Many people equate the new-type power grid with traditional UHV. Official definition: a complete network system with coordinated main-distribution-micro three layers. It is not just a UHV backbone; over half of investment goes to distribution network upgrades, combined with smart microgrids and computing-power coordination, solving the two practical pain points of renewable energy integration and computing power supply. It is not a simple patch-up of the old grid but a systemic restructuring. 2. Official core hard data 1. Fixed asset investment in the power grid during the 15th Five-Year Plan period will exceed RMB 5 trillion, up more than 80% from the 14th Five-Year Plan; State Grid invests RMB 4 trillion, and China Southern Grid totals about RMB 1 trillion. 2. Newly added 15 UHV DC green power channels, with west-to-east power transmission scale exceeding 420 GW; six regional interconnection projects, with interconnection capacity +40 GW. 3. Distribution network investment accounts for more than 50% of total investment; 2030 targets: distributed renewable energy acceptance of 900 GW, new energy storage of 300 GW.…