CTGI chairman speaks at the World Hydropower Congress on speeding up hydropower development for net-zero emissions

The 2021 World Hydropower Congress, virtually held a forum themed The Next 850GW: New Hydropower Aiming for Net-Zero Emissions at 23:00 on September 10 (GMT+8). Wu Shengliang, chairman of China Three Gorges International Limited, attended the event and exchanged views with other attendees.

Wu said hydropower is a key driving force for achieving the net-zero carbon emission target set in the Paris Agreement, as well as the core force of a low-carbon economy.

In China’s current power generation mix, thermal power still has a dominant market share of 60%, while hydropower accounts for about 20 percent. While China is vigorously developing new energy, hydropower will see further development, and the government is actively promoting the adoption of pumped-storage power technology. Domestic hydropower will complement wind power, solar and hydrogen energy, playing a key role in helping achieve the goals of carbon peak and carbon neutrality initiative, and in shaping a new power system relying on new energy.

As China's largest clean energy group and the world's largest hydropower development and operation company, CTG generates more than 300 billion kWh of clean energy annually, reducing carbon emissions by approximately 232 million tons. CTG has been investing in pumped storage power for years, with a large number of high-quality related resources. Changlongshan pumped storage power plant, under construction with a total installed capacity of 2.4 million kilowatts, has put its first power unit into operation in late June. CTG also shows interest in developing floating photovoltaics that merges with hydropower. It has made some efforts in China. As for the international market, the group bid for floating photovoltaic projects in Malaysia.

As CTG's major entity responsible for clean energy investments in the overseas market, CTGI now has reached 17 million in total installed renewable capacity.