GreenergyDaily
Jun. 11, 2024
1. The first cylindrical floating oil-gas production, storage, and offloading (FPSO) facility in Asia, named "Haikui No. 1," has been successfully installed at sea, its owner China National Offshore Oil Corporation announced on Monday.
2. On June 6, the Xiamen Power Station, the largest single-unit capacity pumped storage power station in Fujian, fully commenced operations. Designed to generate 1.4 billion kilowatt-hours annually, the station will save approximately 220,000 tons of standard coal and reduce carbon dioxide emissions by 440,000 tons each year. In recent years, Fujian has seen exponential growth in new energy sources such as hydroelectric, wind, and photovoltaic power.
3. China's major state-owned banks were seen selling dollars for yuan in the onshore spot foreign exchange market on Tuesday to prevent the local currency from falling too rapidly, according to Reuters citing four people with knowledge of the matter. China's state banks usually act on behalf of the central bank in the country's foreign exchange market, but they could also trade on their behalf.
4. Xiaomi Auto refuted a rumor claiming the Chinese EV maker is offering a subsidy of CNY20,000 (USD2,760) when purchasing its SU7 car model. No such policy or promotion is given by Xiaomi, PR Manager Wang Hua said yesterday.
5. Zhu Gongshan, chairman of GCL Group, stated at SNEC 2024 today that based on the current pace of photovoltaic development, the global photovoltaic installed capacity is expected to range between 490-550 GW in 2024. This capacity will soon be able to match the installed capacity gap with thermal power.
6. China has undocked a new 24,000-TEU containership, the world's longest at 399.99 meters, in Nantong, east China's Jiangsu. The made-in-China vessel boasts the equivalent capacity of more than 240 trains when fully loaded.
7. Saudi Arabia's ACWA Power Co. is planning to raise 7.1 billion riyals ($1.9 billion) by issuing stock to existing shareholders, capitalizing on a more than sixfold increase in its share price since a 2021 listing. Funds from the rights issue will help the power producer finance plans to triple its assets by the end of the decade. It sees spending on its share of projects growing to as much as $2.5 billion annually through 2030 from a previous range of $1 billion to $1.3 billion, it said in a filing Tuesday.
8. According to PetroChina, as of Monday, China's longest photovoltaic irrigation and desertification control project, the Tarim Oilfield Desert Highway "Zero Carbon" Demonstration Project, has issued a cumulative green power exceeding 5 million degrees, achieving the dual effects of desertification control and environmental protection.
9. Saudi crude oil exports to China will fall in July for a third straight month to about 36 million barrels amid plant maintenance and as some refiners opted for other sources of cheaper oil, several trade sources said on Tuesday. The reduction underscores the challenge the world's top oil exporter faces in maintaining market share in the world's largest crude import market. July exports are expected to be down from about 39 million barrels in June, possibly the lowest levels for the year, the sources said.
10. Tesla saw its sales in China rise significantly last month, as it dedicated more capacity at its Shanghai plant to local deliveries. Tesla China sold 72,573 vehicles in May, including 17,358 for export, according to data released today by the China Passenger Car Association. That means the US electric vehicle maker sold 55,215 vehicles in China in May, up 29.89% from 42,508 a year earlier and up 75.73% from 31,421 in April, CnEVPost calculations show.
