A logo of State Grid is seen in Beijing on June 4, 2022. [Photo/VCG]

State Grid Corporation of China saw its annual grid investment surpass 600 billion yuan ($84 billion) for the first time this year, the company said on Friday.

The record investment was 71.1 billion more than that of the previous year, it said.

This is part of the company's efforts to accelerate the construction of a new type of power system, promote high-quality development of new energy and drive large-scale equipment upgrades and renovations.

The additional investment is primarily allocated to the construction of ultra-high voltage power transmission projects, strengthening the connection between county-level grids and the main grid and upgrading grid digitalization and intelligence, said the Beijing-based State-owned enterprise

Ultra-high voltage transmission lines refer to power transmission cables operating with greater than 800 kilovolts of direct current, or 1,000 kV of alternating current. Compared with traditional transmission lines, ultra-high voltage lines not only increase transmission capacity and extend transmission distances, but also reduce transmission losses

Increasing investment would further facilitate power supply, facilitate the transmission of large wind and solar power bases in western regions while improving services for public welfare, it said.