September 28, 2010 - The State Grid Corporation of China (SGCC) will invest 300 billion yuan (US$45) annually in smart grid development over the next decade, reports yicai.com, citing a responsible source at SGCC.

According to a development plan released by the Jiangsu provincial government, Jiangsu's smart grid requires an investment of 20 billion yuan.

The total production value of Jiangsu province's smart grid industry is expected to reach 150 billion in 2012 and then 300 billion yuan in 2015.

Shanghai launched a smart grid development plan on May 12.

According to the plan, Shanghai intends to develop three to five leading enterprises in the smart grid industry.

SGCC is currently engaged in the operation of the smart grid pilot, which includes the fiber-to-the-home (FTTH) project.

Xiao Liye, director of the China Electric Power Research Institute, said smart grid construction in China will accrue 40 trillion yuan in production value in 30 years.