GreenergyDaily

Feb. 23, 2024

1. Maerdang hydropower station, located on the upper reaches of the Yellow River, has successfully hoisted into place the turbine runner of its No. 4 unit in NW China's Qinghai recently. The 6.6-m-diameter, 158.5-tonne runner is a core component of the unit for energy conversion.

2. China has begun construction on the 2nd phase of the Zhangzhou nuclear power project using Hualong One reactors, domestically developed 3rd-generation reactors, in the city of Zhangzhou, E China's Fujian Province. The first four Hualong One units have been completed and put into operation, according to the China National Nuclear Corporation. The Zhangzhou nuclear power project is designed to consist of six nuclear power units, each with a 1-million-kW power generation capacity.

3. The head of Saudi Arabia's Public Investment Fund (PIF) on Thursday pitched the kingdom as a prospective hub for artificial intelligence activity outside the United States, citing its energy resources and funding capacity.

4. An early staff close to Lei Jun, XIAOMI's Chairman and CEO, revealed that Lei may take action to allow the first batch of buyers of Xiaomi Automobile to obtain license plates in Beijing, according to Sina Tech. XIAOMI has not responded to the news. However, if the profit generation space reserved for dealers by Xiaomi Automobile is large enough, the possibility that some dealers will consider giving away license plates for promotion cannot be ruled out, an insider said.

5. GCL System Integration has announced that they have successfully delivered the 1.1GW module order that was signed with NTPC Renewable Energy (NTPCREL). NTPCREL is a wholly-owned subsidiary of NTPC, which is India's largest power company. The module order will be utilized for NTPCREL's three ground power station projects and was delivered in time for the Spring Festival.

6. Germany's BASF will slash another 1 billion euros ($1.1 billion) in annual costs at its Ludwigshafen headquarters, citing weak demand and high energy costs in its home market, highlighting the country's economic woes. The annual cost savings will be reached by the end of 2026, affecting both production and administrative activities at its largest chemical complex, the German chemicals giant said in a statement on Friday.

7. Beijing's transport authority said today that its license-plate lottery policy applies to owners of XIAOMI cars as well, after reports said Xiaomi SU7 purchases come with a free plate, Sina Tech reported. A customer service rep at the carmaker also refuted the reports.

8. Hyundai Motor will invest $1.1 billion in Brazil by 2023, focusing on the advancement of eco-friendly future mobility and relevant technological development, the automaker said Friday. As part of its initiative, the automaker committed to align with Brazil's carbon neutrality policy.

9. Nearly a third of Shell's profit in 2023Q4 came from the $2.4 billion it made in trading liquefied natural gas as it captured strong demand ahead of winter, according to Reuters citing three sources close to the company. Shell did not disclose how much it made on LNG trading when it reported fourth quarter net earnings of $7.2 billion on Feb. 1.

10. Volvo Car will slash its stake in Polestar Automotive Holding UK Plc to 18% and stop funding the unprofitable electric-vehicle maker to focus on its on shift to battery technology. Volvo Car plans to transfer around 9.5 billion Swedish kronor ($921 million) worth of Polestar stock to its shareholders, it said Friday. The move will hand more responsibility to China's Geely, which controls both companies.