China Green Energy
Jun 21, 2023
1. Qatar reached its second large gas supply deal with China National Petroleum Corporation on Tuesday. Under the 27-year agreement, China will purchase 4 million metric tons of liquefied natural gas (LNG) a year from the Gulf Arab state.
2. As of the end of May, China's cumulative installed power generation capacity was about 2.67 billion kilowatts, up 10.3% YoY. Among them, the installed capacity of solar power is about 450 million kilowatts, up 38.4% YoY; the installed capacity of wind power is about 380 million kilowatts, up 12.7% YoY, according to the National Energy Administration of China.
3. The German police arrested a Chinese citizen at Munich Airport last week, prior to the start of the Intersolar Europe trade fair. Investigators are targeting the detained individual for allegedly evading anti-subsidy and anti-dumping duties imposed on PV products in the European Union prior to September 2018, a lawyer told pv magazine. In April 2018, three suspects were arrested by customs investigators in connection with more than 400 imports of PV products from China into the European Union. The accused used intermediary companies in Greece and the Isle of Man to hide their operations, avoiding approximately €35 million ($38.2 million) in anti-dumping and anti-subsidy duties.
4. China will extend the NEV purchase tax exemption until Dec. 31, 2025, the Ministry of Finance announced today. Purchases made in 2026 and 2027 will have a tax reduction of no more than CNY15,000 (USD2,085).
5. In Jan to May, China's major power generation companies completed an investment of 238.9 bln yuan in power projects, up 62.5% YoY. Among them, solar power was 98.2 bln yuan, up 140.3% YoY; wind power was 55.3 bln yuan, up 41.8% YoY; nuclear power was 26.9 bln yuan, up 66.5% YoY, according to the National Energy Administration.
6. NIO Inc., a leading Chinese electric vehicle company, today announced a share subscription agreement with CYVN Holdings, an investment vehicle majority owned by the Abu Dhabi Government. CYVN Holdings will make a total strategic investment of approximately US$1.1 billion in NIO. According to NIO, the Investor will invest an aggregate of US$738.5 million in cash to subscribe 84,695,543 newly issued Class A ordinary shares of the Company at a per share purchase price of US$8.72.
7. The photovoltaic power generation project of the Hunutlu Power Plant in Türkiye, with an installed capacity of 21 megawatts, was connected to the country's power grid on May 25, said its operator, the Chinese firm State Power Investment Corporation (SPIC). This project was an example of Chinese solution, technology and equipment being used to help a country achieve green energy transition. Currently, SPIC is carrying out the construction of the second and third phase of the photovoltaic project, aiming to increase the installed capacity of renewable energy.
8. On June 19, Xinjiang's first 2GW high-efficiency photovoltaic module production project was completed and put into operation in Urumqi High-tech Industrial Development Zone, filling the gap in localized production of modules in Xinjiang's photovoltaic industry chain.
9. Sales of new energy vehicles (NEVs) in China saw a five-fold increase from 1.37 million units in 2020 to 6.89 million units in 2022, accounting for over one fourth of China's overall vehicle sales in 2022, the country's vice minister of industry and information technology said at a press conference Wednesday.
10. Envision Energy, a world-leading renewable energy company, announced its pivotal role as turbine supplier for the 1 GW Bash & Dzhankeldy wind projects in Uzbekistan. ACWA Power, a Saudi Arabian developer that is driving the energy transition globally, spearheads these projects' development. The Bash & Djankeldy wind projects will contribute immensely to Uzbekistan's objective of installing 5000 MW of wind energy by 2030.
