China has launched the construction of a major hydropower facility on the lower reaches of the Yarlung Tsangbo River, which runs through the Tibetan Plateau. The cost of the ambitious project will exceed $170 billion, reports Baltimore Chronicle with reference to Reuters.
The announcement was made by Chinese Premier Li Qiang, who emphasized that this is the country’s most significant energy undertaking since the launch of the Three Gorges Dam. The planned complex will consist of five cascading hydropower plants, expected to collectively generate around 300 billion kilowatt-hours of electricity annually—equivalent to the United Kingdom’s total yearly consumption. Commissioning of the plant is anticipated in the 2030s.
Chinese financial markets reacted positively to the news, interpreting it as a signal of government-led economic stimulus. Stock indices rose, particularly shares of companies involved in infrastructure, cement production, and explosives manufacturing.
However, India and Bangladesh have voiced concerns over the potential downstream impact of the dam, warning that millions of people could be affected. Several non-governmental environmental organizations also raised alarms about possible threats to the fragile ecosystems of Tibet.
According to Li Qiang, the new hydropower complex will be a “project of the century,” though he stressed that construction must proceed with special attention to ecological preservation.
Earlier we wrote that polysilicon prices surge in China, up 15% in one week.
