On September 11, China Three Gorges Renewables announced that as of the first half of 2025, the company had 13.82 GW of capacity under construction, including 10.02 GW of wind and solar power. Of this, onshore wind, offshore wind, and solar PV accounted for 27%, 26%, and 47% respectively. The remaining 3.8 GW consisted of concentrated solar power (CSP), pumped storage, and energy storage projects. For 2025, the company aims to add 5 GW of grid-connected capacity, with wind and solar each contributing roughly half.
The national policy on full renewable energy market participation is guided by the principles of “market-based price formation, fair allocation of responsibility, distinguishing existing and new projects, and coordinated policy alignment.” It deepens market-oriented reform of renewable energy on-grid tariffs. According to local implementation measures, for existing projects, the mechanism for contracted volume and price is generally consistent with current guaranteed purchase policies, with relatively limited impact. For new projects, however, electricity prices face greater uncertainty, and competition in the power market will intensify. To actively respond, the company has introduced 43 measures across 10 categories, emphasizing “optimal selection, construction, operation, control, and sales” to ensure the development of high-quality projects.
With the full integration of renewables into the electricity market, short-term market volatility is expected to increase. As of the end of August, Inner Mongolia (East and West), Xinjiang, Shandong, Gansu, Yunnan, Shanghai, and Hubei had formally issued provincial-level schemes, while Guangdong, Shanxi, Hainan, Liaoning, Ningxia, and Chongqing had released draft proposals. Following the national framework, each region has tailored rules to its resource conditions and market situation. In August, Shandong launched its first competitive bidding round, where the company developed market analysis and pricing strategies on a project-by-project basis, adopting a “one project, one strategy” approach.
China Three Gorges Renewables also noted that it is actively exploring new energy storage technologies through research and demonstration projects. Its completed and ongoing new energy storage capacity now exceeds 3 GW, covering both standalone storage and storage paired with renewables. Standalone storage generates revenue by participating in spot markets and providing ancillary services, while paired storage operates either independently or under dispatch depending on regional policies. Given the differences and frequent changes in regional storage market rules, the company will closely monitor market access requirements, particularly for paired storage, and adjust its participation strategies accordingly. By aligning with electricity and ancillary service price signals, the company aims to enhance overall power plant revenue.
Source：https://mp.weixin.qq.com/s/8BK2zDqdVphBAf9pCqZRtQ