Alstom continues hydro power projects in China
French power generation company Alstom will invest up to US$123 million in hydro power projects in China.
Alstom Renewable Power, the division in charge of renewable power generation equipment and services, plans to establish a Global Technology Center in Tianjin. This project is part of a US$123 million investment to upgrade Tianjin's hydro potential.
Alstom has turned its sights on hydro power since other renewable energy sectors such as wind and solar energy are slowing down to a glut of energy producing machines. It believes that demand for pumped-storage plants is increasing.
The company is already one of China's leading hydro producers. The company has contracts for hydro turbines and generators covering 47 gigawatts, of which half is already in commercial operation.
According to the China Electricity Council, China’s hydro power investment reached US$7 billion in the first five months of the year, up nearly 50% year-on-year.
Hydro power constitutes 22% of China’s installed power base. The country's hydro market is booming, with installed capacity for hydropower increasing by 15 GW every year,. It is expected to reach 380 GW by 2020 from some 200 GW this year.
China plans to get 11% of its energy from renewable sources by 2015, of which hydro power will contribute two-thirds.
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