State Power Investment Corporation
State Power Investment Corporation limited (SPIC) is a state-owned corporation established in 2014 that is engaged in the electricity industry. It is the largest electricity supplier in China, with a focus on clean energy development to meet the increasing global demand. The company builds, operates, and maintains power generation and other electricity generation projects, as well as operates and manages related business activities, including power transmission, distribution, and effect due to changes in the market.
SPIC is a wholly state-owned entity and boasts a large portfolio of power generation plants in coal, nuclear, and renewable energy sources. It is determined to provide secure and reliable electricity supplies, develop low-carbon renewable energy, and actively participate in the Chinese governments initiatives to promote the “One Belt, One Road” Initiative in Central and South Asia.
As the second-largest power generator in the country, SPIC has a huge customer base, including power plants, large-scale industrial customers, and commercial customers. It plays an important role in providing electricity supply for the livelihood of Chinas citizens as well as in providing energy for economic development.
In terms of energy conservation and environmental protection, SPIC has been actively investing in clean energy development. Over the past five years, SPIC has established an extensive clean energy development system covering land-based,high-altitude wind farm, thermal, hydro and marine energy resources, biogas, solar photovoltaic (PV), and biomass power generation, as well as energy storage schemes. These efforts enable SPIC to play an important role in helping China meet its target of achieving a 15% reduction in carbon emissions by 2020.
In 2017, SPIC invested more than 80 billion RMB into its renewable energy projects, making it the largest single investor amongst China’s state-owned enterprises. The company also strives to meet the government’s requirement that by 2020, non-fossil fuel accounts for 18% of all energy sources. SPIC is developing a strategy to invest in energy projects mainly in central and south Asia countries with the aim of exporting Chinese technology to these countries.
In addition to clean energy development, SPIC is actively pursuing waste-to-energy (WTE) solutions. The company has invested more than 28 billion RMB into over 30 WTE projects in China, and is now developing WTE projects in Bangladesh and Thailand. The company is also investing in research and development to create innovative WTE technologies to further its mission.
Through its many efforts and initiatives, SPIC seeks to create a sustainable and secure energy supply safer for future generations and make a positive contribution to global energy security. It is worth noting that the company is one of the most experienced power generation companies in China. As such, it is at the forefront of leading the push towards green energy and a low-carbon society.
