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Wind: ADAMA Phase II 153 MW Wind Power Plant in Ethiopa Completed
China Power recently completed the delivery of 102 1.5 MW wind turbines to the ADAMA Phase II wind farm in Ethiopia. The total installed capacity for the wind farm is 153 MW. The export project is part of China’s one belt policy, where it hopes to have unifying push toward exporting its technologies to developing markets globally. (China Power CN)
President Xi Jinping Inspecting a Wind Farm Model
Source: Power China
Azure maintains a list of qualified EPC suppliers to support overseas construction projects. When choosing EPC partners, they must pass a thorough vetting process to understand they can deliver high quality goods on time, on budget, and without headaches.
Construction: China Machinery Industry Announces “New Normal” With Slower Growth Prospects
The China Machinery Industry Federation (CMIF) hosted a conference analyzing the top 100 machinery companies by their industry in China. 35 of the top 100 companies were in the electrical industry, 14 in petrochemical machinery, and the rest were distributed over a variety of industries, shown in the chart below. There has been little change in the leadership board, with top-performing companies staying at the top, and overall the industries achieved a modest 5.5% market growth compared to 2015. (CMIF CN)
Source: China Machinery Industry
The CMIF and the Chinese government are looking for ways to generate new efficiency-related growth, rather than new-construction growth. They are pushing for standardization of the “Made in China” marketing campaign, which they hope to realize by 2025. The plan includes replacing high quality, foreign manufacturing with equivalent domestic technology over the coming years.
Coal: Hebei Coal Industry to Wind Down 50 Million Tons Annual Production in Five Years
The Hebei coal industry is experience a massive downward push, and will close 40% of its mines over the next three to five years. By 2020, only 70 million of the current 120 million tons of annual coal mined will continue to be mined. This will have a massive impact on local jobs, however, the remaining 60 or so mines that remain opened will employ newer mining technologies and will run more efficiently. (Hebei PRC CN)
Coal remains a major energy source for China, and will for at least the next thirty years. Short-term, however, the increased emphasis on wind, over-production of coal, air and water pollution problems, financing difficulties, an excess of low-efficiency mining, and downward economic pressure are pushing a number of the poorer performing mines to shut down.
Finance: SDIC Power Acquires British Offshore Wind Power Division of Repsol
SDIC Power finished the acquisition of British offshore wind power division of Repsol for 238 million euros. The sale included 100% control of the Inch Cape offshore wind farm, and a 25% stake in the 588MW Beatrice offshore wind farm, both in Scotland. (BJX CN)
Chinese outbound FDI into Europe was around 23 billion USD in 2015, with about 2.2 billion USD going into the United Kingdom. This acquisition represents about 10% of UK FDI based on 2015 levels. While the majority of FDI remains in Asia, or is funneled through Hong Kong, 15% to 25% of total annual FDI has been flowing to Europe each year for the last 5 years.