[By Guan察zhe Wang Yi] China's hydropower development continues to make other countries "look up in awe". According to a report released by the International Hydropower Association (IHA) on June 25, China's hydropower installed capacity not only continues to lead globally, but also accounted for more than half of the global increase in hydropower capacity last year.

According to the latest report, the global new hydropower installed capacity in 2024 reached 24.6 gigawatts, including 16.2 gigawatts of traditional hydroelectric power and 8.4 gigawatts of pumped storage hydropower.

In the global new hydropower installed capacity of 24.6 gigawatts, China contributed 14.4 gigawatts, accounting for nearly 60%, continuing to lead the world in hydropower development. In addition, over half of China's hydropower installed capacity growth came from pumped storage, with an additional capacity of 7.75 gigawatts.

March 10, 2025, Jurong, Jiangsu, the first set of units of the world's highest dam pumped storage power station was connected to the grid. Visual China

The report pointed out that more than 91 gigawatts of pumped storage projects are currently under construction in China, and it is expected to exceed the original target of 120 gigawatts by 2030. In addition, with an additional 136 gigawatts of pumped storage capacity in the future, China will continue to accelerate its development in this field.

China's continuous investment in pumped storage power stations has become a key means to maintain grid stability during its energy transition. Pumped storage power stations use electricity during low load periods to pump water to the upper reservoir, and then release water to the lower reservoir for power generation during peak load periods, known as the "super battery".

According to reports, since the construction of the first pumped storage power station in China - the Gangnan Pumped Storage Power Station - in 1968, China's pumped storage technology has undergone decades of engineering practice and technical accumulation, and it is now the largest, most mature, economically optimal, and most stable energy storage method.

IHA said that China's total hydropower installed capacity has reached about 436 gigawatts, accounting for more than three-quarters of Asia's total capacity. In addition to hydropower, China continues to maintain a leading advantage in renewable energy fields such as wind and solar power. By the end of 2024, the total installed capacity of wind and photovoltaic power in China had exceeded 1,200 gigawatts, completing the national target for wind and solar power installed capacity set for 2030 ahead of schedule.

Previously, the International Energy Agency pointed out in a report that hydropower is the pillar of low-carbon electricity, and currently nearly half of the global power supply is supported by hydropower. Since the 1970s, emerging and developing economies have led the global hydropower growth through public sector investments in large-scale power stations. However, in developed economies, the share of hydropower is declining, and the equipment in hydropower plants is aging, with the average age of hydropower plants in North America approaching 50 years, and the average age of hydropower plants in Europe being around 45 years.

The International Energy Agency expects China to remain the largest hydropower market in the world before 2030. At the same time, Chinese enterprises are also heavily investing in hydropower in other emerging and developing countries, driving global hydropower development.

Pie chart of the total global hydropower installed capacity as of 2024. International Hydropower Association

China's role in hydropower development is most prominent in sub-Saharan Africa, where it is expected that nearly 70% of the region's new installed capacity will involve Chinese companies by 2030. In Asia excluding India, nearly 45% of the hydropower installed capacity built at that time will have Chinese company backgrounds, with Pakistan and Laos facing the largest scale of Chinese hydropower investment and project construction. In Latin America, it is expected that over 40% of hydropower expansion will involve Chinese companies, including significant investments in Argentina, Colombia, and Peru.

The IHA report stated that China is not the only country increasing hydropower investment. Countries such as Australia, Vietnam, Thailand, Laos, and the Philippines in the Asia-Pacific region are also advancing new hydropower projects and gradually optimizing industry regulatory frameworks to support hydropower industry development.

However, the report also admitted that hydropower development in other parts of the Asia-Pacific region, apart from China, still faces severe challenges, especially in financing. High initial construction costs and long return periods limit the enthusiasm of private enterprises. Some countries have yet to establish effective capacity market mechanisms, further restricting project financing capabilities.

IHA Chairman and former Australian Prime Minister Malcolm Turnbull said that global hydropower investment is accelerating after several years of "stagnation," but as hydropower plays an increasingly important role in the global energy transition, more "bold" policy support is needed, such as giving reasonable returns for multiple social benefits of hydropower, and reforming the approval system to speed up project implementation, among others.

This article is an exclusive work of Guanzhewe, and without permission, it cannot be reprinted.

Original: https://www.toutiao.com/article/7519768707044950539/

Statement: The article represents the views of the author. Please express your attitude below the [Up/Down] buttons.