State-owned China Three Gorges (CTG) is heavily spending on hydro, wind and solar projects just as Western utility investors are cutting back. CTG and other state-owned utilities such as State Grid are willing to tolerate risks and, flush with cash, are expanding overseas in the hopes of accumulating more diversified revenue sources as demand cools domestically. The U.S. government has been slow to respond to China’s growing appetite for foreign investment.
State-owned China Three Gorges (CTG) is heavily spending on hydro, wind and solar projects just as Western utility investors are cutting back. CTG and other state-owned utilities such as State Grid are willing to tolerate risks and, flush with cash, are expanding overseas in the hopes of accumulating more diversified revenue sources as demand cools domestically. The Beijing government is spending heavily on renewables to curb China's reliance on imported oil, gas and coal, as well as to reduce heavy air pollution levels.