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3-Gorges group publishes its 2017 sustainability report
The report describes how 3-Gorges plans to create a large-scale development platform for new energy such as offshore wind power. The Group's target is to develop wind and solar energy as its second main busines after hydro, mainly focusing on large-scale development of offshore wind power.
Three Gorges' Fujian Fuqing Xinghua Bay Phase I demonstration project is now in operation, featuring 14 wind turbines from 7 different manufacturers with unit capacity between 5 MW to 6.7 MW and a total installed capacity of 78.4 MW. The demonstration project has had positive press last week as the offshore turbines just withstood Maria typhoon without any damage.
CATL Battery will invest Euro 240 million to set up a battery production base in Germany and secures $4.7 billion contract from BMW
Under the joint witness of the Chinese and German prime ministers, China CATL and the German state government of Thuringia signed an investment agreement in Berlin. According to the agreement, CATL will set up a battery production base and intelligent manufacturing technology research and development center in Erfurt, Thuringia. (Sohu)
In 2017, CATL shipped 11.84 GWh of lithium-ion batteries, ranking first in the global market with a 17% market share.
MIIT publishes new list of encouraged construction material technology and products
The list published by the Ministry of Industry and Information Technology promotes the transformation and upgrade of the construction material industry, as well as costs reduction, increase in efficiency and acceleration of the supply-side structural reform. The list also addresses the problem of overcapacity in the cement and glass industries. (MIIT)
The list has a total of 48 items. An interesting one is the addition of electrochromic and thermochromic smart windows as well as other shading systems, including specific performance requirements..
China leading wind gearbox manufacturer NGC to be acquired by Neoglory Prosperity Inc
Neoglory Prosperity Inc announced its intention to acquire NGC (Nanjing High Accurate Drive Equipment Manufacturing Group Co., Ltd) for a total asset value above 2 billion USD. Neoglory Prosperity released a major asset purchase plan which described the intention to have its Five Season subsidiary acquire between 834 and 1,208 million shares of NGC (00658, HK), representing 51% to 74% of the company, for a price ranging between RMB 9.99 and RMB 11.25 per share.(SinaFinance)
NGC is the leading Chinese wind turbine gearbox manufacturer, supplying a large number of domestic and international wind turbine OEMs. Neoglory Prosperity Inc. (hereinafter referred to as "Neoglory Prosperity ", stock code: 002147.sz), listed on the Shenzhen stock exchange since April 2016, is a commercial and tourism real estate developper as well as a precision machinery manufacturing company.