The two companies also beefed up grid construction. SGCC planned 38 ultrahigh voltage grid projects from 2021 to 2025 with a total investment of 380 billion yuan ($56.4 billion), as China's new energy saw rapid development in recent years.

According to the China Electricity Council, in 2022, China's newly installed power generation capacity was 200 million kW, of which 160 million kW was that of nonfossil energies.

Many regions said they now have record installed capacities in new energy power generation. For instance, State Grid Xinjiang Electric Power Co Ltd, which is responsible for power supply in the Xinjiang Uygur autonomous region, said the installed capacity of new energy power generation in the region reached a record 40.655 million kW, accounting for 36.09 percent of the total installed capacity.

The Northwest Branch of State Grid Corp of China, responsible for power generation in five provinces and regions in Northwest China, including Gansu province and Qinghai province, reported installed capacity of 157 million kW of new energy power generation in these areas, accounting for 45 percent of the total and surpassing that of coal.