The $170\u2011billion Yarlung\u202fZangbo cascade, billed as the world\u2019s largest hydropower project, is expected to churn out enough electricity to match Britain\u2019s yearly consumption and has already pushed Chinese stocks and bond yields higher.<\/p>\n\n\n\n
China has begun building a five\u2011station dam complex on the eastern rim of the Tibetan Plateau that will generate an estimated 300\u202fbillion\u202fkWh each year. Officials say the scheme\u2014China\u2019s most ambitious since the Three\u202fGorges\u2014will satisfy surging power demand and bolster economic growth, yet critics worry about environmental and geopolitical fallout for millions downstream in India and Bangladesh.<\/p>\n\n\n\n
Premier\u202fLi\u202fQiang hailed the venture as a \u201cproject of the century,\u201d arguing that large\u2011scale public investment can revive flagging construction activity. Traders seem to agree: on Monday, benchmark 30\u2011year treasury futures fell to five\u2011week lows while infrastructure shares jumped.<\/p>\n\n\n\n
\u201cMature hydropower assets throw off bond\u2011like dividends,\u201d noted Wang\u202fZhuo of Shanghai\u202fZhuozhu Investment Management, although he cautioned against speculative froth. Before we dive deeper, here\u2019s a snapshot of the basics:<\/p>\n\n\n\n Those numbers are eye\u2011watering, right? Yet they only hint at the project\u2019s broader reach.<\/p>\n\n\n\n Beijing insists that careful water management will prevent major disruptions, but NGOs remain unconvinced. They argue the dam sits in a seismically active zone and could irreversibly alter one of the plateau\u2019s most diverse ecosystems. India\u2019s Arunachal\u202fPradesh chief minister has warned that as much as 80\u202fpercent of local river flow could dry up. Will the benefits really outweigh the risks?<\/p>\n\n\n\n Main worries raised by critics include:<\/p>\n\n\n\nKey metric<\/th> Figure<\/th><\/tr><\/thead> Estimated investment<\/td> $170\u202fbillion<\/strong><\/td><\/tr> Annual generating capacity<\/td> 300\u202fbillion\u202fkWh<\/strong><\/td><\/tr> Number of cascade stations<\/td> 5<\/strong><\/td><\/tr> Expected start of operations<\/td> Early\u2011to\u2011mid\u202f2030s<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Environmental groups fear downstream impacts along Brahmaputra despite official assurances<\/h2>\n\n\n\n