Bloomberg citing Mr Huang Shouhong an analyst at Essence Securities Ltd as saying that China, the world’s second-largest energy user, may spend as much as CNY 680 billion building so-called smart power grids.
Mr Huang a power equipment analyst said the nation may need to spend as much as CNY 68 billion annually on the grids from 2011 to 2020. China may spend CNY 4 trillion on the overall power grid from 2009 to 2020.
Mr Liu Zhenya the company President said smart grids deliver electricity to consumers from producers using digital technology that reduces costs saves energy and increases reliability. China State Grid Corp., the nation’s biggest power distributor plans to build a smart grid by 2020.