The energy industry welcomes a heavyweight cooperation - State Power Investment Corporation (referred to as "State Power Investment") and State Grid Corporation of China (referred to as "State Grid") jointly established State Power Investment Corporation Biomass Energy Co., Ltd. on November 15, 2025, with a registered capital of 8 billion yuan to layout in the renewable energy field, marking the substantive implementation stage of the strategic cooperation between the two central enterprises on the green transformation track.

As the benchmark of the "national team" in the energy field, this cooperation between the two sides can be regarded as a model of complementary advantages. State Power Investment Corporation (SPIC) is the only comprehensive energy enterprise in China that possesses all types of power sources including thermal power, nuclear power, and new energy. SPIC has accumulated profound experience in biomass energy development, clean energy technology research and development, and other areas; State Grid provides solid support for energy transmission and efficient utilization through its powerful power grid operation network and comprehensive energy service capabilities. This joint venture is not accidental. As early as 2023, both parties had already entered the specialized integration of State Power Investment through the restructuring of Guoneng Biotechnology, a subsidiary of State Grid Corporation of China, laying a good foundation for cooperation. The establishment of this new company is a further deepening and expansion of the strategic cooperation between the two parties.

According to business information, the registered capital of the new company is 8 billion yuan, with Zhao Yonggang as the legal representative. Its headquarters is located in Beijing, and its business scope focuses precisely on core areas such as solar power generation technology services, wind power generation technology services, energy storage technology services, biomass fuel processing and sales. This business layout not only closely follows the energy transformation trend under the "dual carbon" goal, but also echoes the reform direction of specialized integration of state-owned enterprises. By concentrating advantageous resources, it is expected to quickly improve the comprehensive utilization level of biomass energy in China and promote the coordinated development of renewable energy, energy storage, and power grid.

From the perspective of industry impact, the collaboration between the two giants will have a significant demonstration effect. Against the backdrop of the State owned Assets Supervision and Administration Commission's efforts to optimize the layout of the state-owned economy, this cooperation is not only conducive to leveraging the strategic support role of central enterprises in energy security, but also through upstream and downstream business collaboration, breaking down the full chain barriers of energy production, processing, and transportation, and improving the efficiency of state-owned capital allocation. In the future, the new company is expected to continue to make efforts in exploring new forms of biomass comprehensive utilization, green electricity conversion, and zero carbon energy base construction, injecting strong impetus into the construction of a new energy system.

Both State Power Investment Corporation and State Grid Corporation of China have stated that they will take the establishment of this new company as an opportunity to further deepen cooperation in various fields such as large-scale base development and comprehensive smart zero carbon power plant construction. Through strong alliances, they will achieve resource sharing and complementary advantages, and jointly contribute greater strength to serving national energy security and promoting green and low-carbon energy transformation. With the gradual investment of 8 billion yuan and the implementation of projects, this "strong alliance" in the energy industry is expected to reshape the pattern of the renewable energy industry and provide solid guarantees for the achievement of China's "dual carbon" goals.Editor/Bian Wenjun