Powering the world, cleanly
By ZHENG XIN | China Daily
November 29, 2016, 12:16 am TWN
China Three Gorges Corp's ambitious expansion has made it the industry leader
Back in 2008, 'Three Gorges' had already become the world's biggest hydroelectric dam.
Yet, for China Three Gorges Corporation, which built the dam, it marked not an end but the beginning of a long journey－a journey of ambitious expansion, to become one of the world's premier energy groups.
The last eight years' figures suggest CTG is well on its way to realizing its ambition. "Three Gorges Corporation, which was once lagging other leaders in the hydroelectric sector, is proud to announce itself as a leader of the industry now," said Lin Chuxue, executive vice-president of CTG.
That's not an empty boast. CTG now has a total capacity of more than 13 GW overseas, enabling it to become a major player in the global clean energy market.
CTG's overseas electricity generation reached 20 billion kilowatt-hours this year, mainly from hydro power, wind power and solar power. Its facilities are scattered across the globe, including in Brazil, Germany, Greece, Pakistan and Laos.
The company expects that by 2020, about 15 percent of its revenue will be generated overseas.
Lin said the company aims at not only the developed European and American clean energy markets but those endowed with abundant hydroelectric and new energy resources. He sees huge market demand in Africa and Latin America.
The Amazon area and the Parana region in Brazil, which have rich hydroelectric resources, have always been a major focus of the company, he said.
CTG has recently agreed to acquire Duke Energy's 2,090-megawatt business in Brazil for $1.2 billion, to further strengthen its Brazilian subsidiary as a top-tier clean energy generator in the country.