China Green Energy
May 19th, 2023
1. China's first molten salt energy storage instead of electrochemical energy storage project developed by Anhui Company of China Energy Group, was officially approved as a technological innovation project. It could replace electrochemical energy storage with a power of 70 MW.
2. On May 19, data from Shanghai Ganglian E-Commerce Holdings showed that in less than one month, the price of battery-grade lithium carbonate had risen from RMB180,000 yuan/ton to 300,000 yuan/ton.
3. On May 17, LONGi Hydrogen signed an equipment procurement contract with Da'an Jidian Green Hydrogen Energy Co., Ltd. The project has a total investment of RMB6.332 billion($901.58 million) and is expected to reduce carbon dioxide emissions by 650,000 tons per year.
4. China proposes to build a China-Central Asia energy development partnership, Chinese President Xi Jinping said Friday. Xi called on the two sides to accelerate building Line D of the China-Central Asia natural gas pipeline, increase oil and gas trade, develop energy cooperation across the industrial chain, and boost cooperation in new energy and the peaceful use of nuclear energy.
5. On Wednesday, Orient Cable, a leading Chinese land & subsea cable solutions provider, announced that it has signed an agreement with the joint venture company of Orsted-Woxu and PGE-Poland Power Grid, to provide 66kV submarine cable and supporting accessories to the Baltica2 offshore wind power project. The total amount of the contract is nearly RMB350 million($49.83M).
6. Recently, CNOOC's self-developed high rate pulser of rotary steerable drilling and random drilling "Xuanji" system has been used over 100 times, marking the commercial application of this tech, which breaks the long-term monopoly of international oil service companies.
7. Nio invested CNY995 million (USD141 mln) for a 19.9% stake in Neo Fusion, a firm which aims to achieve commercial use of controlled fusion, Reuters reported today, citing a source and a filing. Nio Capital, founded by the Chinese EV startup’s CEO William Li, bought a 10% stake.
8. On Thursday in Chongqing, a total of 88 projects, with a contracted investment amounting to RMB290.7B($41.55B), were signed at the fifth Western China International Fair for Investment and Trade. The projects covered like intelligent connected new energy vehicles, energy, etc.
9. Recently, China's first 110 kV polypropylene insulated cable was successfully hung on the grid in Guangzhou and operated safely for more than 168 hours, marking that China's green cables have officially entered the stage of industrial application.
10. On May 19, Dynagreen Environmental Protection Group signed a cooperation agreement with Zhangqiu District, Jinan City, Shandong Province, planning to invest in the construction of a Low Carbon Environmental Protection Industrial Park. The total investment is expected to exceed RMB10 billion.
