GreenergyDaily
October 23, 2023
1. Hyundai Motor and Saudi Arabia's Public Investment Fund (PIF) will jointly build a CKD automobile factory with an annual output of 50,000 vehicles in Saudi Arabia's King Abdullah Economic City (KAEC). The two parties will jointly invest more than US$500 million and enter mass production in the first half of 2026, according to Yonhap News Agency on Oct. 23.
2. Electric vehicle brand Beyonca, backed by Renault and Dongfeng Motor, said on Monday that it has signed an investment and strategic cooperation memorandum with Al Faisaliah Group Holding Company (AFG), an investment group headquartered in Saudi Arabia. Beyonca also inked a strategic cooperation deal with QG FZE-LLC regarding investment opportunities in the Middle East.
3. On Oct. 23, according to TASS Russian News Agency, Russia's Gazprom will supply 600 mln cubic meters of gas to China in 2023 in addition to its contractual obligations, Chairman of the Gazprom Management Committee Alexey Miller said in an interview. Gazprom announced the signing of an additional agreement to the current contract on gas supplies to China via the eastern route for an extra volume of deliveries by the end of this year on October 19.
4. On Oct. 23, according to CNOOC, China's first 100-billion-square-meter deep coal seam gas field, the Shenfu Deep Coal Seam Gas Field, was discovered on the eastern edge of the Ordos Basin, with proven geological reserves exceeding 110 billion cubic meters. The average gas content per ton of coal in this gas field reaches 15 cubic meters. Currently, more than 100 exploration wells have been deployed in the area, with the maximum daily gas production of a single well reaching 26,000 cubic meters.
5. Liu Yuxi, president of LONGI China, said today that the price drop of photovoltaic modules in 2023 exceeded expectations. The vicious low-price competition is very unhealthy, which will not only damage enterprises but will also affect China's entire photovoltaic industry and harm China's innovation, Liu added, according to National Business Daily today.
6. On Oct. 22, China's National Key Laboratory of Carbonate Oil and Gas, led by Sinopec, was officially unveiled in Beijing. The laboratory is one of the first six national energy R&D innovation platforms of the National Energy Administration's "14th Five-Year Plan" and strives to form a batch of advanced product systems that break through bottlenecks in five to ten years.
7. On Oct. 23, according to Cailian Press, the first phase of GCL's Wuhu TOPCon battery project of 10GW reached full production capacity, with the average mass production efficiency exceeding 25.6%. The project will provide high-efficiency battery production capacity for the company's large component bases in Hefei and Funing.
8. Recently, Wang Chuanfu resigned as the legal representative and chairman of BYD's battery company, and He Long will take over.
9. Recently, Jiyue Auto, an automotive robot brand under Geely Holding Group, has reached a cooperation with CATL. In the future, the two sides will jointly promote the R&D and mass production application of new energy technology products for automotive robots. In addition, Jiyue's first model "Jiyue 01" will be officially launched on October 27.
10. On Oct. 23, according to the National Energy Administration of China, as of the end of September, the country's cumulative installed power generation capacity was approximately 2.79 billion kW, up 12.3% YoY. Among them, the installed capacity of solar power generation is approximately 520 million kW, up 45.3% YoY; the installed capacity of wind power is approximately 400 million kW, up 15.1% YoY.
