GreenergyDaily
Jul. 11, 2024
1. Shell has signed an agreement to invest in the ADNOC Group Ruwais LNG project in Abu Dhabi. The investment decision strengthens our leadership position in liquefied natural gas, while supporting our strategy to create more value with less emissions.
2. Almost two-thirds of big wind and solar plants under construction globally are in China, where surging renewable capacity has squeezed coal's generation share to new lows, research released on Thursday showed. China is building 339 GW of utility-scale wind and solar, or 64% of the global total, a report from U.S.-based think tank Global Energy Monitor found. That is more than eight times the project pipeline of the second-place U.S., with 40 GW.
3. JPMorgan believes BYD's efforts to expand into global markets will see a key milestone in 2026, when full-year deliveries are expected to reach 6 million units, with about 1.5 million in overseas markets and the rest at its home market, analyst Nick Lai's team said in a July 9 research note.
4. The world's highest-altitude wind farm under construction completed hoisting its 1st wind turbine with the 117-tonne blade set in place on Wed in SW China's Xizang. The 100MW project, at 5,200m above sea level, can generate over 223 million kWh of clean power annually upon operation.
5. On July 10, the 7,500 parking space LNG dual-fuel new automobile ship "Liaohekou", constructed by Xiamen Shipbuilding Industry and operated by COSCO Shipping Specialized Carriers, was officially named and launched on its maiden voyage, marking the official entry of China's ocean-going car carrier fleet into the "new energy era." It is reported that the new ship "Liaohekou" will carry over 5,000 vehicles from brands such as BAIC, BYD, and Chery to start its journey to Europe.
6. TCL Zhonghuan has forecasted a net loss of about CNY 2.9 billion to 3.2 billion for the first half of 2024, compared to a net profit of CNY 4.54 billion in the same period last year. The wafer manufacturer cited rapid price declines across the polysilicon material, wafers, and cell segments, pushing sales prices below cost levels by the second quarter and resulting in widespread losses.
7. Aiko Solar said it expects a net loss of CNY 1.4 billion to 2 billion for the first half of 2024. The back contact technology specialist said that higher manufacturing costs and increased marketing expenses have dragged down profitability, compounded by significant provisions for inventory writedowns.
8. German chemicals giant BASF said it would review a major investment push to build a global manufacturing network for battery materials amid a downturn in the electric-vehicles segment, according to a news report. BASF has previously said that ambitions for a global supply network for cathode materials for electric-vehicle batteries was one of two major investment initiatives, the other being a new 10 billion-euro ($10.8 billion) chemical complex in China.
9. Tesla has raised prices of its Model 3 cars in European countries including Germany, the Netherlands and Spain by about 1,500 euros after the EU imposed tariffs on EVs made in China, the U.S automaker said on Wed. Tesla, which makes the Model 3 in Shanghai and is the top exporter of EVs from China, had warned in June it might lift prices due to the tariffs imposed on July 4 by the European Commission to counter what it described as a potential flood of unfairly subsidised EVs.
10. bp confirmed today that it intends to take a 10% interest in the planned Ruwais liquefied natural gas (LNG) project in Al Ruwais Industrial City in Abu Dhabi, subject to obtaining any necessary regulatory approvals. The project will be led by ADNOC, holding a 60% interest, alongside bp, Mitsui & Co, Shell and TotalEnergies, each with a 10% interest. ADNOC announced in June that it had taken final investment decision for development of the project.
