When the world’s attention was focused on the 1.2 trillion yuan Yarlung Tsangpo River hydropower project, the “Century Project” of the Three Gorges Dam has once again entered the spotlight.
The Three Gorges Dam has been in operation for over 20 years with a total investment of about 250 billion yuan, creating many world records.
So, after all these years, has the Three Gorges Dam recouped its investment? How much return has been generated from this astronomical investment?
The “Money Printing Machine” of Power Generation
Speaking of the “money-making capability” of the Three Gorges Dam, power generation is absolutely the “top player.”
By July 2025, the Three Gorges Dam’s cumulative power generation reached 1.8 trillion kilowatt-hours. If we calculate at 0.25 yuan per kilowatt-hour, the revenue from electricity sales alone amounts to over 450 billion yuan.
To put it in perspective, the total investment was only 250 billion yuan, which means it has already earned almost two times the initial investment!
Even more impressive, the “profit margin” of the dam has remained above 50% for many years.
This means that even if nothing else is done, the Three Gorges Dam generates 100 million yuan per day, a scale of profit greater than the annual earnings of many listed companies.
Moreover, the Three Gorges Dam has also played a significant role in environmental protection.
Just in terms of power generation, the dam’s daily power generation is about 500 million kilowatt-hours.
This is equivalent to the total electricity consumption of 5 million ordinary households for an entire month, enough to meet the power needs of a large city for a whole day.
Don’t underestimate the 500 million kilowatt-hours of electricity produced daily. If it were generated using traditional coal power, 160,000 tons of standard coal would be needed.
And this amount of coal, if piled up, could fill nearly 80 standard football fields. If piled to a height of 3 meters, it would form a small coal mountain.
But with the Three Gorges Dam’s hydropower generation, not only is this much coal saved every day, but it also reduces 430,000 tons of CO2 emissions, equivalent to planting 2.4 million trees every day. The environmental benefits are truly visible.
In the context of the national push for “dual carbon” goals, the clean energy contribution of the Three Gorges Dam is especially valuable.
The “Guardian God” of Flood Control
However, don’t think the Three Gorges Dam only generates power and earns money—its core function, flood control, is equally important.
Do you remember the 1998 catastrophic floods in the Yangtze River?
It affected 200 million people, destroyed millions of houses, and caused direct losses of over 200 billion yuan, with indirect losses exceeding 500 billion yuan.
At that time, people along the river lived in constant fear of flooding.
Since the completion of the Three Gorges Dam, this situation has completely changed.
In the summer of 2020, the Yangtze River faced another major flood peak. The inflow of water from upstream surged dramatically, putting cities along the river such as Wuhan and Yueyang in a very tight flood control situation.
At this critical moment, the Three Gorges Dam stepped in, holding back hundreds of billions of cubic meters of floodwater, reducing the flood control pressure on these cities by half and effectively preventing the disaster from worsening.
The flood control effect of the Three Gorges Dam has not only been demonstrated in 2020.
Over the past 20 years, it has held back nearly 70 major floods, including 21 “super flood peaks” with flow rates exceeding 50,000 cubic meters per second.
Every time the Three Gorges Dam successfully intercepts floodwaters, it “saves money” for the country.
The Ministry of Water Resources calculated that the direct losses avoided from flood control alone exceed 100 billion yuan, not to mention the lives and homes saved—this value cannot be measured in monetary terms. It’s not an exaggeration to call it a “lifesaving project.”
The “Accelerator” for Shipping
In addition to power generation and flood control, the Three Gorges Dam has also played an important role in improving the shipping conditions of the Yangtze River, which is often overlooked.
In the past, the section of the river from Yichang to Chongqing was full of rapids and dangerous shoals, making it impossible for ships with a tonnage of over 3,000 tons to pass.
During the dry season, the water levels were too low for ships to navigate; in the flood season, the rapid water flow often led to capsizing accidents.
At night, no one dared to sail on this section of the river, as it was considered extremely dangerous.
At that time, the port of Chongqing had an annual cargo throughput of only 50 million tons.
Cargoes from Shanghai to Chongqing had to be unloaded midway and transported by road, with a freight cost of 120 yuan per ton, which worried the merchants greatly.
Now, with the Three Gorges Dam, the situation has completely changed.
The dam has stabilized the water level in the reservoir area to above 4.5 meters, creating a “high gorge and a smooth lake” scenario.
Sea-going ships with a tonnage of 10,000 tons can now sail directly to Chongqing, and the freight cost has dropped to 40 yuan per ton, a reduction of two-thirds compared to before.
Since the Three Gorges ship lock became operational in 2003, the total cargo passing through the lock has exceeded 2.2 billion tons.
In recent years, the annual transport volume has reached over 150 million tons, and the freight savings alone have exceeded 100 billion yuan.
Now, the annual throughput of Chongqing Port is four times what it was in 2003, and the GDP of the entire Yangtze River Economic Belt accounts for 40% of the national total.
Conclusion
Looking at the actual benefits brought by the Three Gorges Dam, who would still think of it as a loss-making project?
With an investment of 250 billion yuan, the dam has earned 450 billion yuan from electricity sales, more than 100 billion yuan in flood control benefits, billions in shipping revenue, and countless environmental benefits that cannot be quantified by numbers.
Furthermore, the dam’s design life is 150 years, and experts believe that with proper maintenance, it could last up to 500 years.
This means that not only will our generation enjoy the benefits of the Three Gorges Dam, but future generations will also be able to rely on it for their livelihoods.
So, when viewed from this perspective, the Three Gorges Dam is indeed a high-quality project that will continue to benefit future generations.
Conclusion
The Three Gorges Dam is not just a water conservancy project; it is a symbol of China’s infrastructure strength. In just over 20 years, it has proven that a good project is never a money pit but a long-term source of wealth that benefits several generations. Now, with the Yarlung Tsangpo hydropower project underway, the experience accumulated from the Three Gorges will come in handy. We believe that in the future, China will have more national heavyweights like the Three Gorges, writing a legendary chapter of infrastructure with strength!
