Three Gorges Group expands installed capacity
YICHANG, CHINA - By the end of 2015, the installed capacity of China Three Gorges Group Corporation Yichang, Hubei, the largest hydropower producer in China, will reach 55 gigawatts GW.
The company's revenues and profits will reach $9.55 billion and $4.25 billion, respectively, according to the planning outline of the Three Gorges Group for the 12th Five-Year Plan 2011-15, which recently received approval at the First Representatives Meeting of Employees and the Working Conference for 2011.
The installed capacity, business revenues and profit of the Three Gorges Group will double in the next five years, said Mr. Chen Fei, the general manager of the Three Gorges Group. In the past five years, the total assets, business revenues and profit of the Three Gorges Group doubled from $22.7 billion, $2.1 billion and $1.13 billion 2006 to $43.3 billion, $4.4 billion and $2.14 billion, respectively, by the end of 2010.
In the next five years, the Three Gorges Group will have the 4.2-GW Three Gorges Underground Power Station, the 6-GW Xiangjiaba hydropower station and the 13.86-GW Xiluodu hydropower station commissioned. The company will kick off construction for the 12-GW Baihetan hydropower station and the 8.4-GW Wudongde hydropower station during this time.
By the end of the 12th Five-Year Plan, the Three Gorges Group's installed capacity of hydropower will increase 25 GW to 47 GW in total. The installed capacity of wind power will reach 8 GW, and another 8 GW will be under construction or in pre-stage preparation. The Three Gorges Group will be selecting sites for nuclear power development through strategic cooperation with other leading energy groups and research institutes, both in China and abroad.
In addition, the Three Gorges Group will actively explore the international market. In next five years, the Three Gorges Group's overseas installed capacity will reach 5 GW. By 2020, the installed capacity of the Three Gorges Group will reach about 14 of the total installed capacity of clean energy in China. Of this, the company's installed hydropower capacity will account for more than 20 the total installed capacity of hydropower in China.
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