China Three Gorges prepares for diversified future

The China Three Gorges Group are planning to diversify its engineering activities, as it prepares for the prospect of less opportunities in the hydroelectric power space.

Reuters reports that the firm's vice-general manager, Bi Yaxiong, told a forum this week that the country's biggest hydropower developer, plans to engage in wind power, solar and other new energy forms, with the market for giant new dams already in decline.
China Three Gorges Dam
Yaxiong added that there will be few worthwhile projects left once the group completes its sixth giant dam at the end of this decade, saying, "While the development and operation of large hydropower on the Yangtze River will remain our core business, we will actively develop domestic wind, solar and other new energies."

He said the firm has gained "competitive advantages" in the construction, financing and operation of giant hydro plants, but the market was now reaching a saturation point.

"Once the downstream Jinsha river project is completed in 2020, (we) face the serious situation of having no large-scale hydropower plants left to build, and we won't be able to take full advantage of our core expertise," he said.

The state-owned firm operates the world's largest hydropower plant at the Three Gorges on the Yangtze river. China Three Gorges, the parent of China Yangtze Power Co Ltd (600900.SS), also runs the huge Xiluodu and Xiangjiaba facilities upstream, both now nearing completion.

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