The Chinese government launched the controversial initiative in 2013, which aims to develop large-scale infrastructure in foreign countries in an effort to enhance its economic influence globally, as well as to address domestic overcapacity issues by exporting excess industrial capacity.

It has faced both praise and criticism, with supporters arguing that it can promote economic development and connectivity among participating countries, while critics raise concerns about debt sustainability, environmental impact and the geopolitical implications of China’s increased influence.

The report from Wood Mackenzie, Belt & Road at 10: powering on through growing pains, found that overseas power projects built by Chinese companies now amount to an estimated investment value of around $200bn (£160bn), consisting of over 300 projects producing 128 GW of power – equivalent to 1.3 times Australia’s installed capacity in 2022.

Asia has emerged as the primary destination...