In the context of steady growth, China's energy transformation has witnessed amazing progress in the new energy industry. On July 25, 2023, Three Gorges Energy announced that in order to comprehensively enhance the company's new energy project resources to obtain strength, expand business in Xinjiang Autonomous Region, and further enhance resource advantages, it intends to set up Three Gorges Bazhou Ruoqiang Energy Investment Co., LTD., a joint venture between Three Gorges Energy, Yangtze River Power, Three Gorges Capital and Three Gorges Investment. We will comprehensively carry out the acquisition, development and construction of new energy resources in southern Xinjiang.

The announcement shows that Three Gorges Energy, Yangtze River Power, Three Gorges Capital, Three Gorges Investment in currency contribution of 510 million yuan, 495 million yuan, 247.5 million yuan, 247.5 million yuan, accounting for the proportion of the registered capital of the joint venture company is 34%, 33%, 16.5%, 16.5%.

The business scope of the joint venture includes investment and development of wind, solar, biomass, geothermal, energy storage, hydrogen and other new energy sources as well as upstream and downstream of the industrial chain; Power generation business, transmission business, power supply (distribution) business; Thermal power generation (subject to the business scope approved by the market supervision and administration authority).

To plan a number of large-scale development of land scenery projects

Three Gorges Energy is the main implementation of the new energy business strategy of Three Gorges Group, the main business is wind energy, solar energy development, investment and operation. Lei Mingshan, chairman of the Three Gorges Group, publicly said that it will focus on the construction of new energy bases on land and the large-scale development of offshore wind power, strengthen the new energy business, and create more scenery Three Gorges on the sea.

In 2022, the cumulative installed capacity of new energy in the Three Gorges energy will reach 26.5214 million kilowatts. Among them, the cumulative installed capacity of wind power reached 15.922 million kilowatts; The cumulative installed capacity of photovoltaic power generation reached 10.284 million kilowatts.

Three Gorges Energy in 2022 and the first quarter of 2023 performance statement said that the company's current resource reserves of more than 130 million kilowatts, in 2022, a total of 54,808 million kilowatts of new resources have been defined coordinates, of which 9,8517 million kilowatts of onshore wind power. In 2022, a total of 16.3019 million kW of new approved and filed projects will be added, including 3.5977 million kW of wind power.

Three Gorges Energy is expected to increase the installed capacity of new energy by no less than 5 million kilowatts per year during the 14th Five-Year Plan period. Three Gorges Energy said that with the rapid decline in photovoltaic and wind power investment costs, the company will accelerate the construction of existing projects, while also acquiring some new projects.

On land, Three Gorges Energy said that it focused on the base layout and took the large base as an important increment and major opportunity for a new round of high-quality development. Actively promote the high proportion of new energy delivery, wind and fire storage integration, coal power and new energy joint 10 million kilowatt new energy base project development and construction, and strive to achieve new breakthroughs in the acquisition of large base resources.

During the 14th Five-Year Plan period, we will increase the acquisition of delivery channel resources, and plan a number of large-scale development of land scenery projects around key regions such as Inner Mongolia, Qinghai, Gansu, and Xinjiang.

Priority has been given to Inner Mongolia and Xinjiang

In September 2022, Changjiang Electric Power announced that the company, Three Gorges Energy, Three Gorges Capital and Three Gorges Investment Management jointly funded the establishment of Inner Mongolia Three Gorges Land New Energy Investment Co., LTD. The Three Gorges onshore new energy plans to have a registered capital of 10 billion yuan, and the proposed business scope is wind, solar, biological energy, geothermal, hydrogen energy, energy storage and other new energy and upstream and downstream investment and development of the industrial chain.

On November 30, Inner Mongolia Energy Group Co., Ltd. signed a joint venture agreement with Inner Mongolia Three Gorges Onshore New Energy Investment Co., LTD., a subsidiary of Three Gorges Group. According to the agreement, the two sides will jointly establish Inner Mongolia Three Gorges Mengneng Energy Co., Ltd. to cooperate in the investment, construction and operation of the scenery base project. In 2022, the government of Inner Mongolia Autonomous Region signed a joint venture cooperation agreement with Mengneng Group and Three Gorges Energy for the new energy base project.

It is understood that in Inner Mongolia, the Three Gorges Group takes the lead in the construction of the new energy base in the north of Ordos in the Kubuqi Desert of Inner Mongolia, with an overall construction scale of 12 million kilowatts.

The Three Gorges project is aimed at Xinjiang's new energy resources. According to the forecast, by 2025, Xinjiang's new energy grid-connected installed capacity is expected to reach more than 116 million kilowatts, more than half of Xinjiang's total energy installed capacity, and scenery project installed capacity will become the main source of new installed capacity in Xinjiang.

Up to now, the installed capacity of new energy in Xinjiang has reached 50.26 million kilowatts, surpassing the 50 million kilowatts mark, accounting for 41% of the total installed capacity, ranking first in the five northwestern provinces. In 2021-2022, Xinjiang will launch two batches of 7.1GW scenery competition. Among them, the Three Gorges obtained a total of 150MW landscape project indicators, accounting for 2.1%. Editor/Xu Shengpeng