GreenergyDaily
Jan. 31, 2024
1. According to the China Electric Power Enterprise Federation, as of the end of 2023, China's power generation installed capacity in total was 2.92 billion kilowatts, a year-on-year increase of 13.9%. The proportion of coal power installed capacity dropped to 39.9% by the end of 2023, falling below 40% for the first time. The first time the proportion of coal power installed capacity dropped below 50% was at the end of 2020.
2. According to the China Electric Power Enterprise Federation, China's total installed capacity of grid-connected wind power and solar power exceeded 1 billion kW in 2023! It rose from 760 million kW at the end of 2022 to 1.05 billion kW at the end of 2023, up 38.6% YoY, accounting for 36% of the total installed capacity.
3. The China Electric Power Enterprise Federation predicts that in 2024, China's cumulative installed capacity of new energy power generation is expected to reach about 1.3 billion kW, accounting for about 40% of the total installed capacity, and will exceed coal power installed capacity for the first time.
4. Chinese battery giant CATL said yesterday it expects net profit to have grown 38%-48% to CNY42.5 billion to CNY45.5 billion (USD5.9 bln to USD6.3 bln) last year from the year before. The company launched new tech and products and accelerated overseas expansion last year, it added.
5. During the Q4 earnings call yesterday, General Motors CEO, Mary Barra, announced that the company has set a target of selling at least 250,000 electric vehicles by 2024. She also stated that GM plans to reduce costs by $2 billion in the same year. Additionally, the company plans to develop plug-in hybrid vehicles as part of its efforts to reduce emissions.
6. The National Energy Administration of China has released data regarding new energy storage in China for the year 2023. The domestic installed energy storage capacity in China in 2023 has exceeded expectations at 48.7GWh. It is predicted that the domestic installed capacity will grow by more than 30% in 2024, exceeding 65GWh.
7. China's 1st nuclear power unit using Hualong One, a domestically designed third-generation reactor, entered commercial operations in southeast China's Fujian on Jan 30, 2021, which uplifted China to the forefront of the world's third-generational nuclear tech.
8. The Hurun Research Institute today released the 2023 Hurun Global 500, a list of the 500 most valuable non-state-controlled companies in the world. For the first time, OpenAI made it to the list with a value of US$50 billion, while solar panel manufacturer LONGI failed to make it. The U.S. have the highest number of companies on the list with 261, which accounts for 52% of the total number of 2023 Hurun Global 500 companies and 65% of the total value. China ranks second with 33 companies on the list, which is two fewer than the previous year.
9. China officially became the world's top auto exporter in 2023, surpassing Japan's 3.978 million passenger car exports, Japan Automobile Manufacturers Association said on Wednesday. Data from Chinese customs showed that China exported a total of 5.221 million vehicles last year, rising 57.4% year-on-year.
10. According to Chinese financial media Caijing Eleven, Saudi Aramco invested over RMB 32.9 billion in China in 2023. However, some project-specific investment amounts have not yet been disclosed. Earlier, Mohammed Qahtani, President of Saudi Aramco's downstream business, stated that the company had signed cooperation agreements worth up to $8 billion (approximately RMB 57.3 billion) with Chinese partners in 2023. If this statement is accurate, Saudi Aramco would become the foreign company with the largest investment in China in 2023.
