China Green Energy
Jun 5, 2023
1. On Sunday, China's 1st homegrown 110-MW heavy-duty gas turbine AGT-110 passed the product verification test in S China's Shenzhen. It can produce over 150,000 kWh of electricity per hour in a combined cycle power generation system to meet the daily demand of 15,000 families.
2. Developed by Chinese researchers, the novel hybrid storage technology may achieve an efficiency of over 80% and be applied in distribution and transmission grids. The proposed combination is reportedly able to offer the advantages of gravity energy storage and power-based storage systems in a single solution, according to PV magazine.
3. According to The International Energy Agency's new report, solar will remain the main global renewable capacity expansion in 2023, accounting for 286 GW. In 2024, the figure is set to grow to almost 310 GW, driven by lower module prices, greater uptake of distributed PV systems, and a policy push for large-scale deployment. IEA said global renewable capacity additions are set to soar by 107 GW to more than 440 GW in 2023.
4. On June 1, China National Nuclear Power announced that the company's holding subsidiary, China Nuclear Exchange Energy plans to acquire 100% of the equity of Tongdao Chiyuan New Energy Development held by Sany Heavy Energy at a price of RMB319 mln($45.42 mln).
5. Breakthrough! China's offshore electrolysis platform "Dongfu-1" has generated hydrogen from seawater in a trial at a wind farm in SE China's Fujian, a game-changing tech from the traditional hydrogen generation method to unlock limitless seawater resources.
6. As of May 31, Shandong Province boasts the largest energy storage capacity in China, currently at 2.01 million kW connected to the grid. This represents a remarkable 160% increase from the previous year, comprised of 2 million kW of chemical energy storage and 10,000 kW of compressed air energy storage.
7. BYD's data reveals impressive sales figures for May, with 240,200 new energy vehicles sold, marking a YoY increase of 109% and an MoM increase of 14%. From January to May, there were a total of 1,002,600 vehicles sold, indicating a YoY increase of 98%, with approximately 64,000 vehicles exported during the same period.
8. June 5 marks World Environment Day, a day to raise public awareness of environmental protection and call for more action. China boasts the fastest growth of forest resources worldwide. The country has 231 mln hectares of forests, and the forest coverage rate is 24.02%.
9. On June 2, China and Argentina inked a partnership agreement to collaborate on constructing the "Belt and Road" Initiative. The initial infrastructure project in Argentina by China Railway Construction Corporation, which is the salt field civil engineering project of Litio Minera Argentina, a subsidiary of Ganfeng Lithium, has been successfully executed. The completion of this project will aid in fulfilling the requirement for lithium batteries that are utilized in solar electric vehicles in northern Argentina.
10. As of June 2nd, the Hangzhou Asian Games have successfully conducted green electricity transactions resulting in a cumulative usage of 621 million kwh, effectively saving 76,000 tons of standard coal. Additionally, 65 Asian Games venues and offices located in Zhejiang Province have pledged to utilize this environmentally-friendly source of electricity.
