China Southern Power Grid to build new energy grid in Hainan

China Southern Power Grid, one of the country's two major power grid operators, vows to invest 27 billion yuan ($4.15 billion) in the upcoming five years in Hainan to come up with a 500-kilovolt transmission grid that covers the whole island, a new type of power system with new energy as the major contributor.

It also plans to make Hainan the country's first smart grid demonstration province in the country, the company said on Monday.

The company has invested 33.6 billion yuan during the 13th five-year plan, a year-on-year increase of more than 70 percent. It has also built the province's first pumped storage power station and the first giant gas peak shaving power station meanwhile.

China Southern Power Grid also vowed to build a clean, low-carbon, safe and highly efficient energy system that will replace traditional energy with renewable sources.

It plans to build a power system with new energy as a pillar in China's Guangdong province, the Guangxi Zhuang autonomous region, Yunnan province, Guizhou province and Hainan province, said the company.

The five regions currently have a new energy installed capacity of 50 million kilowatts, which will be improved by 2030. The proportion of non-fossil energy production in the five regions will also be increased to 61 percent by 2030, said Liu Wei, spokesman of China Southern Power Grid.