China Three Gorges eyes overseas projects amidst rising domestic costs

Vice president Sun Zhiyu also cited the depletion of river space.

Reuters reports that China Three Gorges Corp (CTGC) is turning to offshore projects due to the rise of domestic costs and depletion of spaces in rivers, citing vice president Sun Zhiyu.

“We don’t have any plans to build more hydropower projects in China but will develop more projects overseas,” the executive said. “We already have business in more than 40 countries, and will focus mostly on South Asia, Southeast Asia, Africa and Latin America.”

CTGC’s total hydropower capacity is currently around 70GW, which is larger than Australia’s total power capacity, the report adds. China’s total hydropower capacity hit 350GW in 2018, but the government has slowed down project approvals due to increased concerns over their impact on communities and ecosystems.

China has sought to improve the way “hydropower migrants” are compensated. Payments to displaced residents now account for half of a project’s total costs, and tougher rules are set to be implemented next year. The state has also toughened its stance on small hydropower.

Read the full report here.