Welcome to Azure International

Azure International is a leading investment and advisory company focused on China's cleantech energy sector. Founded in 2003, we have a team of 20+ local and international professionals based in China with backgrounds in engineering, marketing, manufacturing, consulting, policy, government relations and finance. In addition to deep advisory capabilities in renewable energy, energy efficiency, carbon management, and energy finance, we have proven capability to invest in and accelerate the development of clean energy companies.  Our portfolio and partner companies have achieved both significant commercial success and returns to investors. Azure provides the necessary expertise and execution capabilities in China to lead relationship development with government and strategic partners, project execution, sourcing, sales and technology development – all with deep understanding of Chinese and international requirements.

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News Summary:

 

  • NEA revises RPS on quota system and policies
  • Mingyang Smart Energy Group approved for IPO
  • Zhejiang Daishan signs MOU with XEMC, CCCC Third Harbor and Ningbo Dongfang Cable
  • Beijing increases natural gas price during winter heating period
  • Yangjiang promotes investment activities in wind power industry
  • Hebei publishes 2018 Engineering Research Center Construction List proposal
  • MOEA reaffirms commitments to reach 5.5 GW of offshore wind by 2025
  • Jiangsu promotes PPP projects in revision of awards and supplemental funds

 

 

NEA revises RPS on quota system and policies

The National Energy Administration (NEA) has revised the Renewable Portfolio Standard (RPS) on the premise of keeping the quota system and policies basically the same. Previously, in March and September of this year, the NEA published two drafts for the RPS. In this notice, the methods for measuring provincial-level regional quotas, monitoring and evaluating the quotas and assessing the market entities that bear the quota obligations are as follows:

  1. The 2020 indicator is a guiding indicator, which is dynamically adjusted according to the situation of renewable energy resources and the transmission of renewable energy across provincial and inter-regional channels. When the indicators for 2020 are measured, the proportion of renewable energy in Jiuquan-Hunan, Zalute-Shandong, Ningxia-Shandong, Shanghai-Shandong, Ningdong-Zhejiang UHV transmission channels is considered to be no less than 30%.
    There has been some debate about whether UHV transmission lines were built to support renewables or just to move coal and pollution from the big cities to more remote areasThis policy inticates the answer is 'a bit of both', suggesting the need to continue building both renewables and new coal power plants in West China.
  2. The minimum renewable energy index that should be achieved for each provincial administrative region is a binding indicator, and the incentive index is determined by exceeding 10% of the binding index.
  3. For the provincial administrative areas where the quota of renewable energy power reaches 80%(including hydro [i.e., Sichuan and Yunnan), no binding monitoring and evaluation will be carried out.(NEA)

Non-hydro RPS required

AzureChinaCleantechNews19Nov2018 04

 (Note: The column on the right indicates the number of 100MW wind farms which would need to be built by 2020 to satisfy the increase in RPS requirement (assuming the whole gap is filled with wind, with utilization hours of 1800 hours, and also assuming average annual city power consumption growth of 5%).

  

 

Mingyang Smart Energy Group approved for IPO

In the 171st Working Session of the 17th Audit Committee in 2018, Mingyang Smart Energy Group’s application for an IPO has been approved. It has only been 281 days between the first disclosure of the prospectus in February and the meeting this week (November 13). (CSRC)

AzureChinaCleantechNews19Nov2018 02

 

Note that in recent years, Mingyang’s performance has been declining. In 2017, the company's revenue was 5.3 billion CNY, down 19% year-on-year; the net profit return on revenue was 344 million CNY, down 11.5%. However, being headquartered in Guangdong province which has an agressive offshore wind pipeline, Mingyang is well positioned for rapid growth in the offshore sector in the coming years.

 

 

Zhejiang Daishan signs MOU with XEMC, CCCC Third Harbor and Ningbo Dongfang Cable

On November 6, the Zhejiang Daishan Government signed an MOU with XEMC, CCCC Third Harbor and Ningbo Dongfang Cable to promote offshore wind industry development. According to this document:

  • XEMC will invest 1 billion CNY to build a WTG manufacturing R&D base.
  • CCCC Third Harbor will invest 0.2 billion CNY to manage offshore steel structure manufacturing and installation.
  • Ningbo Dongfang Cable will participate in the construction of the Daishan wind power industry chain by providing resources, capital, technology and market.
    (
    ZJOL)

AzureChinaCleantechNews19Nov2018 01

 

 

 


Beijing increases natural gas price during winter heating period

From November 15, 2018 to March 15, 2019, natural gas sales price for non-residential consumption in Beijing will rise by 0.23 CNY/m3, from 2.48 CNY/m3 to 3.22 CNY/m3 based on usage.

China has always been in a state of natural gas shortage. In the first three quarters of this year, natural gas production was 115.6 billion m3, up 6.3% year-on-year (YOY), and natural gas imports were 88.6 billion m3, up 37.6% YOY, while consumption of natural gas was 201.7 billion m3, up 18.2% YOY.

 

 

Yangjiang promotes investment activities in wind power industry

From October 31 to November 9, the mayor of Yangjiang led a delegation to the UK, Denmark and France to carry out investment activities in the wind power industry. This trip resulted in the signing of 3 MOUs and a trade cooperation contract of 25 million USD. The Yangjiang mayor pointed out that Yangjiang is an offshore wind power equipment manufacturing industrial base in Guangdong Province, that the offshore wind farm is planned to reach 10GW, and that the wind power industry has a favorable investment environment. And for this trip Azure also helped organize some of sht Yangjiang Delegation’s meeting (YJRB)

AzureChinaCleantechNews19Nov2018 03

AzureChinaCleantechNews19Nov2018 06

 

 

Hebei publishes 2018 Engineering Research Center Construction List proposal

Hebei Development and Reform Commission has published a proposal of projects to be listed on the 2018 Engineering Research Center Construction List. In this list, 4 out of the total 30 projects are in new energy. These include:

  • Renewable energy for heating
  • Low-speed wind and offshore wind blades
  • Hydrogen storage and transportation equipment
  • Photovoltaic conductive film(HBDRC)

 

Projects that are not rejected before November 16 can receive special provincial funds for the development of strategic emerging industries.

 

 

MOEA reaffirms commitments to reach 5.5 GW of offshore wind by 2025

Earlier this week, the Ministry of Economic Affairs (MOEA) has reaffirmed commitments to reach 5.5 GW of offshore wind power generation by 2025, a goal set by President Tsai Ing-wen after she took office and which attracted wind power developers from all over the world. However, after a series of intensive selection and bidding procedures in the first half of the year, selected developers are often limited to a provisional permit, which prevents them from being able to sign purchase and sale agreements. The MOEA has clarified that the installation procedure is divided into three stages: preparation of licenses, granting of construction permits and granting of licenses. The MOEA says that at present, all developers have in fact obtained most preparatory documents, that application operations are being carried out in parallel, and that implementation is progressing smoothly in accordance with the target of installing 520MW of offshore wind by 2020 and 5,500MW by 2025. (TWTPO)

 

 

Jiangsu promotes PPP projects in revision of awards and supplemental funds

The Jiangsu Provincial Department of Finance has revised the “Administrative Measures for the Government and Private-Public Partnership (PPP) Project Awards and Supplemental Funds” to further promote and accelerate the implementation of PPP projects. For private enterprise projects, the award-added standard will increase by 10%; for projects in the green environmental protection field, the award-added standard will increase by 10%. The maximum amount awarded for a single district-level project does not exceed 20 million CNY, and the maximum amount awarded for a single county-level project does not exceed 10 million CNY. (CZT)


 News Summary:

  • Yangjiang DRC approves 3-Gorges Yangjiang Xishapa III offshore wind project
  • China releases biomass electricity on-grid price research report
  • Jiangsu sets 2019 power trading target at 300TWh
  • Zhejiang gas on-grid price temporarily increases 0.2 CNY/kWh

 

 

Yangjiang DRC approves 3-Gorges Yangjiang Xishapa III offshore wind project

The Yangjiang Development and Reform Commission (DRC) has approved the Yangjiang Xishapa III offshore wind project, which plans to install 73 units of 5.5MW WTG. This project includes two zones: Zone A1 will hold 55 units of WTG connected to a newly installed offshore substation and Zone A2 will hold 18 units connected to the 3-Gorges Xishapa II offshore substation. (Yangjiang DRC)

 AzureChinaCleantechNews12Nov2018 01

 

 

In the Xishapa area, 3-Gorges has five offshore wind projects in total:

AzureChinaCleantechNews12Nov2018 02 

 

 

China releases biomass electricity on-grid price research report

According to the “Biomass Electricity Price Policy Research Report” jointly published by the National Renewable Energy Centre, the Energy Research Institute of the National Development and Reform Commission, and the Biomass Energy Branch of the China Association for the Promotion of Industrial Development, the gap between subsidy funds and installed capacity of China’s renewable energy has continued to widen. By the end of 2017, a total of 14.4 billion CNY, of which 6.41 billion CNY was agricultural and forestry biomass, and 1,228MW (about 8% of total installed capacity) were not included in the government subsidy list. The report outlines the challenges in biomass power generation—projects have high cost, weak profitability, long payback periods, subsidy arrears—alongside the important role biomass power generation plays in environmental protection, people’s livelihood and clean heating. (BJX)

AzureChinaCleantechNews12Nov2018 03AzureChinaCleantechNews12Nov2018 04 

 

 

 

Jiangsu sets 2019 power trading target at 300TWh

The 2019 Jiangsu power market transaction notice states that the province’s power trading target is 300TWh based on a two-sided negotiation and bidding system. On the power demand side, power voltage levels of 10kV and above are required to participate in trading. On the power supply side, trading participation is open to thermal and nuclear power units. (JSPEC)

 

Jiangsu’s total power consumption in 2017 was 580TWh, and total power consumption for 2019 is estimated to reach 630TWh, putting the 300TWh power market trading target at half of total power consumption.

 

 

Zhejiang gas on-grid price temporarily increases 0.2 CNY/kWh

From October 1, 2018 to December 31, 2018, Zhejiang will increase gas power generation on-grid price by 0.202CNY/kWh. During this period, 9F and 6F power generation units’ on-grid price will be 0.73CNY/kWh. 9E and 6B power generation units’ on-grid price will be 0.79 CNY/kWh. (Zhejiang DRC)

In comparison, Zhejiang’s wind on-grid price sits at 0.57CNY/kWh based on resource type IV, and its PV on-grid price at 0.85CNY/kWh based on resource type III. This is encouraging evidence that wind and solar are competitive players in the region.

News Summary:

  • Q3 2018 report shows China boosts grid-connected offshore capacity by 1,020MW
  • Fujian DRC approves Fujian Putian City offshore wind farm
  • SPIC Dafeng H3#300MW offshore wind farm first 6 WTG units connected to the grid
  • 2017 wind power generation average on-grid price decreases 0.43% YOY
  • CIP & Century Group sign 16.5 billion TWD offshore wind foundation contract
  • Baoxin Energy and CGN sign MoU for 1,400MW offshore wind project
  • NEA publishes letter promoting non-subsidized PV & Wind on-grid work
  • NEA data show national wind power utilization hours increase 167hrs by end of August

 

Q3 2018 report shows China boosts grid-connected offshore capacity by 1,020MW

By the end of Q3 2018, China’s yearly installedwind capacity reached 12,610MW, a 30% year-on-year (YOY) increase. Total wind generation capacity in China was 267.6TWh, a 26% YOY increase. For China’s grid-connected offshore wind, there was 1,020MW newly added capacity, mainly concentrated in Jiangsu (920MW) and Fujian (90MW) provinces. (NEA)

AzureChinaCleantechNews15Oct2018 04

AzureChinaCleantechNews15Oct2018 05

 

 

Fujian DRC approves Fujian Putian City offshore wind farm

Fujian Putian City offshore wind farm will be located in Xinghua Bay, with plans to set 40 units of 5.0MW WTG. Project details – distance from shore: 3km; depth range: 5 to 15m; total investment: 3.44 billion CNY.

 AzureChinaCleantechNews15Oct2018 06

 

 

 SPIC Dafeng H3#300MW offshore wind farm first 6 WTG units connected to the grid

The 75-unit 4.0MW WTG SPIC Dafeng H3#300MW offshore wind power project has been successfully connected to the grid. The project is located in Yancheng City’s Binhai County in Jiangsu Province. Project details – distance from shore: 36km; depth range: 17.9 to 18.3m; sea area: 46km2; total investment: 4.96 billion CNY (excludes onshore investment) (CEC)

 AzureChinaCleantechNews15Oct2018 01

Before this project, SPIC already had two offshore wind farms completed and in operation.

SPIC Binhai North H1# - 25 units 4.0MW WTG operating in May 2015

SPIC Binhai North H2# - 100 units 4.0MW WTG operating in June 2018

 

 

2017 wind power generation average on-grid price decreases 0.43% YOY

The 2017 national wind power generation average on-grid price was 0.5623CNY/kWh, a 0.43% YOY decrease. Shanghai’s average on-grid price, ranked the highest, was 0.7519CNY/kWh, whereas Yunnan’s was only 0.4238CNY/kWh. (Average on-grid price = power sale income / on-gird power * 1.17 including TAX) (NEA)

AzureChinaCleantechNews15Oct2018 02

 

 

CIP & Century Group sign 16.5 billion TWD offshore wind foundation contract

The Copenhagen Infrastructure Fund (CIP) and Century Group (Century) signed an Offshore Wind Foundation Contract for 16.5 billion TWD on October 2. CIP Zhangfang and CIP Xidao, which have a total capacity of 600MW and more than 60 units of offshore wind foundations, will be handed over to Century Group, making it the highest single contract in the history of offshore wind power in Taiwan. (CIP tw)

CIP Taiwan offshore projects

AzureChinaCleantechNews15Oct2018 03

The project is based on Taiwan’s goal to remove nuclear power plants by 2025. Taiwan wants to install a 520MW offshore wind farm in 2020 and a total of 3,000MW offshore wind farms by 2025. In phase I of CIP Zhangfang offshore wind farm, 100MW will be operating in 2021, and in phase II, 452MW will be operating in 2023. For CIP Xidao offshore wind farm, 48MW will be operating in 2024.

 

 

Baoxin Energy and CGN sign MoU for 1,400MW offshore wind project

Baoxin Energy has announced the signing of an MoU with CGN for a 1,400MW offshore wind project. The two sides will negotiate a cooperation agreement based on the letter of intent for cooperation. According to the letter, the two sides intend to jointly develop the Shanwei Jiazi Offshore Wind Farm (900MW) and the Shanwei Houhu Offshore Wind Farm (500MW). After the Shanwei Houhu (500MW) Offshore Wind Farm project is approved, Baoxin Energy and CGN will establish a JV in which CNG will hold 80% and Baoxin 20%. (Sina Finance)

Shanwei Houhu 500MW project sea area diagram.

AzureChinaCleantechNews17Sep2018 02

 

CGN is a large clean energy group. By the end of 2017, CGN had 21,470MW of nuclear plants in operation, 10,270MW under construction, more than 11GW of wind installed, and more than 2GW of PV installed.

 

 

NEA publishes letter promoting non-subsidized PV & Wind on-grid work

In the context ofon going Photovoltaic (PV) & Wind technology advancement and cost reductions, the National Energy Administration (NEA) announced that it will further promote the acceleration of renewable energy development and competitiveness, and eliminate subsidy dependence as soon as possible. Non-subsidized PV & Wind projects will be approved by local governments and should sign long-term contracts with local power grid companies with curtailment levels below 5%. In this notice, NEA also announced plans to promote direct trading in PV & Wind. In direct trading, PV & Wind developers and customers negotiatean on-grid price and pay a T&D (Transmission and Distribution) price to the power grid company. (BJX)

Non-subsidized renewable energy direct trading.

AzureChinaCleantechNews17Sep2018 05

For illustration, wind farms connected in type I wind resource areas (mostly in North, NE and NW China) can currently receive a subsidized on-grid tariff of 0.4CNY/kWh, whereas thermal power plants in the same region receive between 0.25 and 0.30 CNY/kWh. However these same wind farms often face severe curtailment, with up to 30% of possible production lost because of grid off-take challenges. .

 

 

NEA data show national wind power utilization hours increase 167hrs by end of August

The National Energy Administration (NEA) has released statistics on the national electricity industry for January to August. Between January and August, national power consumption was 4,529.6TWh, a 9% YOY increase. During this period, there was also 10.26GW of newly installed wind capacity with 1,412 utilization hours. (NEA)

Azure has summarized some of the key data in the graph below:

AzureChinaCleantechNews17Sep2018 03

AzureChinaCleantechNews17Sep2018 04

 

News Summary:

  • Zhejiang province to limit coal production and energy consumption
  • NEA publishes national coal power ultra-low emission and energy saving targets
  • Wind production accounts for more than 5% of national total in 1H2018
  • Fujian and Shandong cancel subsidies for distributed PV projects
  • China's first flexible high-voltage direct current (VSC HVDC) offshore wind farm
  • NDRC requires power trading companies to carry out shareholding reforms

 

 

Zhejiang province to limit coal production and energy consumption

According to this notice, Zhejiang will control the proportion of coal production, limit the development of high energy-consuming industries and promote development of new energy such as wind, PV and biomass. ( ZJDRC)

Azure has summarized some of the key data in the graph below:

 AzureChinaCleantechNews01Sep2018 01

Despite the notice announcing more support for new energy, we are in fact surprised by how small the numbers are for new wind installations. The projections are reasonable in light of historical installations, with average annual installations of 160MW over the past 7 years, but they are not in line with the target of reaching 4GW by 2020 according to the province's 13th 5 year plan, starting from 1.3GW in 1H2018.  We therefore assume that wind targets listed above are not including distributed wind projects nor offshore wind. Zhejiang currently has 252MW of offshore wind under construction and more than 1.2GW already approved.

 

 

NEA publishes national coal power ultra-low emission and energy saving targets

2018 National coal power ultra-low emission target: 48,680MW.

Energy saving transformation target: 53,905MW. (NEA)

Energy saving target map below:

 AzureChinaCleantechNews01Sep2018 02

 

 

Wind production accounts for more than 5% of national total in 1H2018

A total of 82.9TWh of wind power was produced in China during 1H2018 ,accounting for 5.4% of total on-grid power. Wind power trading reached 19.8TWh inluding 9TWh of cross-provincial trading. (CEC)

1H2018 Wind power market trading diagram

AzureChinaCleantechNews01Sep2018 03

Large power generation groups have participated in wind power transactions in 16 provinces, with the three provinces of Yunnan, Xinjiang and Gansu accounting for more than half. The average transaction price in these provinces (including production as well as cross-provincial and / or cross-regional transmission price s) ranged between 0.37 and 0.44 CNY / kWh.

 

 

Fujian and Shandong cancel subsidies for distributed PV projects

Following the “531” < 国家发展改革委财政部国家能源局关于2018年光伏发电有关事项的通知> ( NDRC)policy realised earlier this year, Shandong & Fujian provinces are officially cancelling subsidies for newly connected PV project. The final subsidy amount or power tariff depends on the timing of both registration and connection of the project (BJX)

Fujian distributed PV subsidy breakdown 

AzureChinaCleantechNews01Sep2018 04

 

 

China's first flexible high-voltage direct current (VSC HVDC) offshore wind farm

ChinaHuadong Design Institute is planning to open a groundbreaking 1.1 GW offshore wind farm 90 kilometres from the coast of Jiangsu Province in eastern China. DNV GL announced that it will provide technical support for the feasibility study of China's first flexible high-voltage direct current (VSC HVDC) offshore wind farm converter station.  ( BJX)

Compared with traditional submarine high voltage AC power transmission (HVAC), VSC HVDC can minimize power losses and is suitable for long distance and large capacity project.

 

 

NDRC requires power trading companies to carry out shareholding reforms

According to NDRC document #9 <中共中央国务院关于进一步深化电力体制改革的若干意见> and as part of the power market reform, many new power trading companies have been setup over the past two years. The result however is that most power trading companies are still wholly-owned subsidiaries of the grid company. In this new policy, NDRC now requires that preferably 50% and at least 20% of power trading companies stock be owned by enterprises independent of state grid.  ( NDRC

News Summary:

  • Guangdong DRC publishes opinion on new bidding mechanisms for wind farms
  • Jan to Jul energy statistics published by NEA
  • 3-Gorges Guangdong 400MW offshore wind farm approved by Yangjiang DRC
  • SPIC secures project approval for 2 offshore wind farms in Guangdong province
  • Mingyang and SPIC sign an MOU for cooperation on offshore wind

 

Guandong DRC publishes opinion on new bidding mechanisms for wind farms

Guangdong is the first province to publish clarifications on the specific mechanisms which will be used to allocate wind farm subsidies following the new competitive on-grid tariff guidelines requirements issued by NEA earlier this year. The document provides some details on the scoring scale which will enable to compare bidders, as well as guidelines on procedures for applying for subsidies. (GD DRC)

AzureChinaCleantechNews27Aug2018 04

 

AzureChinaCleantechNews27Aug2018 03

According to theNEA policy issued earlier this year (NEA), the tariff related score for both onshore and offshore wind farms should account for at least 40% of total score. The remaining criteria are listed in the pie charts above. For offshore projects, the business capability score, which relies on a specific scale for rating references, is the second most important criteria with a weight of 30%. For onshore projects progress on preliminary construction is given more importance.

 

 

Jan to Jul energy statistics published by NEA

From Jan to Jul, power consumption in China reached 3,877.5TWh, a 9% increase yr-on-yr.  Wind showed the strongest growth, with new installations of 9.46 GW, with utilization hours improving as well. (NEA)

 

Azure has summarized key information in the graphs below:

AzureChinaCleantechNews27Aug2018 01

 

AzureChinaCleantechNews27Aug2018 02 

 

 

3-Gorges Guangdong 400MW offshore wind farm approved by Yangjiang DRC

The project has a sea area of approximately 67km2, waterdepth of 21 to 26m and distance to shore of 15.9km. The project will feature 73 5.5MW wind turbines with a projected annual production of 1.5TWh.

AzureChinaCleantechNews27Aug2018 05

 

 

 

SPIC secures project approval for 2 offshore wind farms in Guangdong province

SPIC Jieyang Jinghai 150MW & Shenquan PhaseI 400MW offshore wind projects have been approved by Jieyang DRC. The two projects will require a combined number of 101 5.5MW wind turbines. Both projects plan to start construction by the end of 2018 and will be operating in 2021.(JYDRC)

AzureChinaCleantechNews27Aug2018 06

 

Mingyang is the only turbine supplier with a 5.5MW turbine on the market and is securing a large number of orders in Guangdong province where it is headquartered, especially this year as developers are rushing to secure approvals while the 0.85 CNY / kWh feed in tariff is still available.

 

 

Mingyang and SPIC sign an MOU for cooperation on offshore wind

Mingyang and SPIC signed an MOU regardingfixed as well as floating offshore wind. The strategic partnership will be focused on offshore wind power development, clean energy equipment supply, technical cooperation, international projects, information sharing, engineering construction and ancillary services.(BJX)

News Summary:

  • NEA publishes 1H2018 solar power installations
  • HHI signs an offshore wind construction & installation contract with 3-Gorges
  • Jiangsu power grid load exceeds 100 GW for second consecutive year
  • China EV charging infrastructure annual report (2017-2018) published by NEA
  • Shanghai Electric terminates acquisition of subsidiary of GCL-Poly

 

NEA publishes 1H2018 solar power installations

During the first half of this year, 24 GW of new PV capacity was installed. This includes 12GW of centralized PV, a decrease of 30% yr-on-yr, and 12GW of distributed PV, an increase of 72% yr-on-yr. The total installed PV capacity has now reached 154.5GW, about three quarters of which is centralized. (NEA)

 AzureChinaCleantechNews13Aug2018 01

AzureChinaCleantechNews13Aug2018 02

In the first half of 2018, newly installed PV capacity in Shandong, Zhejiang, Henan and Jiangsu provinces all above 1GW, and the newly installed distributed photovoltaic installations in the four provinces accounted for more than half of the country.

 

 

HHI signs an offshore wind construction & installation contract with 3-Gorges

Huadian Heavy Industries (HHI), a subsidiary of Huadian Group, won the bid for the first batch of foundation construction and installation of 38 wind turbines as well as an offshore high voltage substation for the 3-Gorges Guandong Yangjiang Xishaba 300MW offshore wind project. The contract is worth 1 billion CNY. (Finance Sina)

AzureChinaCleantechNews13Aug2018 03

Source: Yangjiang GOV

 

 

Jiangsu power grid load exceeds 100 GW for second consecutive year

On August 8, Jiangsu Power Grid load reached 102.26 GW, breaking last year's record of 102.19GW. From January to July this year, total power consumption in Jiangsu reached 349.5TWh, an increase of 6.78% yr-on-yr. Appoximately 22% of this  power demand was produced from renewable energy sources.(CEC)

AzureChinaCleantechNews13Aug2018 05

 

 

China EV charging infrastructure annual report (2017-2018) published by NEA

777,000 electric vehicles were sold in China in 2017, an increase of 53.3% year-on-year, allowing EV market share to reach 2.7%. In 2017, there were 214,000 public charging stations and 232,000 private charging stations. Construction of another 600,000 charging stations is in planning, including 100,000 public and 500,000 private. (NEA)

AzureChinaCleantechNews13Aug2018 04

Highway power charging network

 

 

Shanghai Electric terminates acquisition of subsidiary of GCL-Poly

In June this year, Shanghai Electric announced its intention to acquire 51% of Jiangsu Zhongneng, a subsidiary of GCL-Poly (HK3800) focused on high-purity polysilicon production, for 12.7 billion CNY. Shanghai Electric now terminates the acquisition procedure. (Finance Sina)

The acquisition was cancelled due to changes in the photovoltaic situation since the second half of the year. Especially after the “531” PV New Deal, the two sides have different judgments on the trading conditions and the future development prospects of the PV market.

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