China Green Energy
May 17th, 2023
1. On May 16, LONGi announced that it will jointly build a 5GW module factory in the United States, which is expected to be put into operation by the end of 2023 or early next year.
2. Since May, the daily power generation of new energy in Yunnan has reached 224M kWh, a record high. The unified installed capacity of wind power reached 11.21 million kW, surpassing thermal power and becoming the 2nd largest power source in Yunnan, according to Yunnan Power Grid.
3. BREAKING NEWS! EU's Carbon Border Adjustment Mechanism(CBAM) was officially signed into law today in Strasbourg! It is EU's landmark tool to put a fair price on the carbon emitted during the production of carbon intensive goods that are entering the EU.
4. According to Hydrogen Insights 2023 launched by the Hydrogen Council and McKinsey & Company, USD 320 billion direct investments into hydrogen projects announced through 2030, of which USD 29 billion have passed the final investment decision (FID). Large majority of operational low-carbon capacity is found in North America, whereas China is the largest market for operational renewable hydrogen projects. More than 9 GW of electrolysis capacity has passed FID, nearly doubling from about 5 GW in previous publication, with China accounting for 40% of the committed capacity.
5. On May 17, according to Sungrow, it reported $5.98 billion in revenue and $533.2 million in net profit for 2022, a 66.8% and 127% increase YoY respectively. It had over 7.7 GWh of ESS and 77 GW of PV inverters shipped in 2022. It also invested over $252 million in R&D.
6. On May 16, a large-scale impact hydropower runner independently developed by Dongfang Electric Group with a maximum power of 150 MW was successfully rolled off the production line in Deyang, Sichuan, achieving a breakthrough in the core technology of China's large-capacity impact hydropower units.
7. The unloading of China's first cross-border yuan-settled liquefied natural gas trade was successfully completed on Tuesday, operator CNOOC said. The company said its LNG carrier Marweh, carrying some 65,000 tons of LNG from the UAE, finished unloading at the CNOOC Guangdong Dapeng LNG receiving station on Tuesday, marking a substantial step forward in China's exploration of cross-border yuan settlement transactions in oil and gas.
8. For global wind turbine OEMs, Goldwind gained the leading position for 2022, by adding 12.5 GW of new installs. This marks the first time that a Chinese OEM has captured the top global market share position, according to Wood Mackenzie.
9. Recently, Mingyang Smart Energy reached a cooperation with South Korea's leading wind turbine manufacturer Unison, to develop an offshore wind power production base in East Asia market. The cooperation is expected to create about 1,000 local job opportunities.
10. China has released a guideline to support people living in rural areas to purchase and use new energy vehicles (NEVs), with a focus on boosting the construction of charging infrastructures. The guideline was jointly released by the National Development and Reform Commission (NDRC) and the National Energy Administration.
