GreenergyDaily
Mar. 26, 2024
1. China's installed power generation capacity surged 14.7% YoY to 2.97 billion kW as of Feb 2024. The installed capacity of solar power soared 56.9% YoY to 650 million kW, while that of wind power rose 21.3% YoY to 450 million kW by end-Feb, according to the National Energy Administration on Monday.
2. A shipyard of a leading ship manufacturer in Shanghai saw the construction of 4 large LNG carriers with a load capacity of 174,000 m3 at the same dock Sun. The shipbuilder is now packed with over 30 ship orders with a delivery schedule until 2028.
3. Singapore-based Maxeon Solar said on Monday it had initiated a patent infringement lawsuit against solar technology firm Canadian Solar in the Eastern District of Texas. The lawsuit alleged infringement of Maxeon's patents related to TOPCon solar cell technology.
4. PetroChina said the Chinese oil and gas behemoth's profit rose to a record for the second year in a row, thanks to operating expenses falling more than revenue and despite operating income dropping. Net profit jumped 8.3% to CNY161.1 billion (USD22.2 billion) in the 12 months ended Dec. 31 from a year earlier, PetroChina said in an earnings report yesterday. Operating revenue fell 7% to CNY3.01 trillion (USD417.1 billion), lower than the decrease in product prices, with operating expenses dropping 8.2% to CNY2.78 trillion.
5. Xpeng yesterday announced a long-term strategic partnership in Thailand with Neo Mobility Asia, marking the Chinese NEV startup's expansion into the ASEAN(Association of Southeast Asian Nations) market. XPeng Motors will sell the G6 in Thailand, Singapore, and Malaysia, with deliveries starting in the third quarter.
6. The onshore Chinese yuan strengthened back against the US dollar, as the central parity rate between the two currencies returned to below 7.1 after a sharp decline. The spot exchange rate of the onshore Chinese yuan versus the US dollar was 7.2132 as of 6.50 p.m. Beijing time yesterday, even though the US Dollar Index rose to above 140 yesterday.
7. Ganfeng Lithium Group said the Chinese battery materials supplier plans to invest and build a joint venture plant with Australian lithium miner Pilbara Minerals to ensure the supply of raw materials and hike the production capacity of lithium salt.
8. Yangjiang nuclear power plant in S China's Guangdong has so far sent nearly 339 bln kWh of electricity to the grid since its 1st unit began commercial operation in 2014. In 2023, it became China's 1st nuclear power plant to send 50+ bln kWh of power to the grid in a single year.
9. Achieving carbon reduction goals through innovation can help developed countries in obtaining new driving forces, and it's even more crucial for developing countries for the modernization of the economy and society, Liu Shijin, chief advisor to the China Environment and Development Council, said at the CDF2024.
10. Amin H. Nasser, President&CEO of Saudi Aramco, said at the China Development Forum 2024 that China is not just a market to Aramco but can partner in five key areas besides energy. According to Amin, the potential cooperating areas include chemicals, lower GHG emissions materials, lower carbon energy, etc.
