China Green Energy
May 22th, 2023
1. Recently, Zhuhai City, Gree Group, Liangang Group and Shenzhen Excellent New Energy Technology signed an investment agreement for an energy storage battery project with RMB10 billion($1.42 billion). The annual industrial output value will be RMB14.4 billion($2.05 billion) after it completion.
2. New-energy vehicles will continue to be the main growth driver for China's auto market in 2023, according to Fitch Ratings. The annual growth rate of China's NEV market is expected to exceed 30 percent this year, and global automakers may accelerate the electrification process and adjust their strategies in China, Yang Jing, director of Asia-Pacific corporate research at Fitch Ratings, said at a recent conference. The country's measures to promote NEVs in rural areas as well as cheaper new battery materials may help small and mini electric vehicles regain growth, Yang added.
3. On May 21, at a promotion of the China-Arab States Expo in Riyadh, Saudi Arabia, Party chief Liang Yanshun said that the expo aims to deepen cooperation in the fields such as trade and economy, energy, science and technology and agriculture, and foster new growth drivers in areas including green and low-carbon development, digital economy and health and medical services.
4. As of May 20, Well Bozi 1-2 in the Tarim Oilfield completed the air drilling task safely. The well adopted air drilling technology and drilled to a depth of 5,068 meters in the gravel layer, setting a record for the deepest air drilling depth of a 333.4 mm well in China.
5. Recently, China's first provincial-level carbon measurement center has settled in Dalian, Liaoning. Carbon measurement is the basis of the carbon market and carbon trading, and it is also an important technical support for China to achieve "emission peak" and "carbon neutrality".
6. President Xi & presidents of the 5 Central Asian countries jointly planted 6 pomegranate trees, which symbolize the millennia-old friendship, solidarity & cooperation between China & Central Asia, and our shared expectation for a bright future of China-Central Asia relations.
7. Chinese EV giant BYD is in talks with France, Spain, and Germany on building a new plant in Europe, Les Echos reported, citing an official. The location has yet to be decided, but it could be one of the biggest investments in Europe's auto sector in the coming years.
8. Recently, India's Vibrant Energy, a holding company of Macquarie Group, the world's leading renewable energy investor, will order 45 3.3MW wind turbines with a total capacity of 150MW from Envision Group, a Chinese leading wind power machine manufacturer. It is reported that in 2023Q1, Envision has won orders for four wind power projects in India totaling 1092MW.
9. Recently, Maifenlong (Shanghai) Environmental Engineering Technology and SPIC's Shandong Energy Development Co., Ltd. signed a strategic cooperation agreement to promote the world's first 100,000-ton green e-Mathanol project.
10. Recently, according to Changan Auto, it has established a battery joint venture company with CATL to engage in the production of power batteries, with an annual production capacity of 25Gwh. It is expected that the company will be registered in the first half of the year and put into operation within this year.
