China's installed power generation capacity reached 2.92 TW by the end of December 2023, a 13.9% rise from a year earlier, showed data from the National Energy Administration on January 26.

This came after 2.85 TW by the end of November, suggesting 70 GW of new capacity was installed in December last year.

Hydropower installations totaled 421.54 GW, a 1.8% rise from a year earlier, while thermal capacity reached 1.39 TW, a 4.1% rise year on year. Nuclear capacity rose 2.4% to 56.91 GW.

Wind installed capacity was 441.34 GW, up 20.7% year on year, and solar capacity rose 55.2% to 609.49 GW, data showed.

In 2023, utilization of all power generation units averaged 3,592 hours, down 101 hours from a year earlier, official data showed.

Specifically, the utilization of hydro-based units declined 285 hours to 3,133 hours. The operation of thermal units increased 76 hours to 4,466 hours.

China invested a total of 967.5 billion yuan ($134.7 billion) in major power projects over January-December last year, a 30.1% increase year on year, data showed.

Investment on hydro, thermal and nuclear power amounted to 99.1 billion, 102.9 billion and 94.9 billion yuan respectively, up 13.7%, 15.0% and 20.8% on the year. China's investment on grid projects rose 5.4% to 527.5 billion yuan.

(Writing by Riley Liang  Editing by Rebecca Liu)
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