Energy Insider: Huayou Cobalt Invests in $2 Billion Indonesian Nickel Plant; Tianqi Lithium’s Stalled Project in Australia Resumes

In today’s Caixin energy news wrap: China’s national carbon market moves one step closer to a formal launch; Tianqi resumes lithium hydroxide project in Australia; world’s largest hydrogen fueling station starts trial operation in Beijing, while China eyes global champion of salt lake development

Jinko Power to sell solar power station assets

Leading Chinese solar company Jinko Power Technology Co. Ltd. (601778.SH) plans to sell two solar power stations to improve its profitability, the company said. Jinko Power’s wholly owned subsidiary Jinko Technology Co. Ltd. will transfer its equity in Zuoyun Jinko Power Co. Ltd. and Jiangsu Xuqiang New Energy Technology Co. Ltd. to Hubei Energy Group New Energy Development Co. Ltd. for 468 million yuan ($72.7 million), the company said. Zuoyun Jinko Power is the operator of a 50 megawatt photovoltaic power station in Datong, Shanxi province. Jiangsu Xuqiang operates a 100 megawatt station in Xiangshui, Jiangsu province.

Tianqi resumes lithium hydroxide project in Australia

Tianqi Lithium Corp.’s stalled lithium hydroxide project in Kwinana, Western Australia, was resumed for testing and is expected to start production this year, the China Securities Journal reported, citing company CEO Xia Juncheng. “The project will reach its designed production capacity next year,” Xia said. The Kwinana project will have a capacity of 48,000 tonnes a year of battery grade lithium hydroxide. Construction work stalled at the facility due to Tianqi's financial troubles and tight liquidity.

China’s national carbon market moves toward formal launch

China’s national carbon market started full-scale testing to make participants familiar with the system, moving toward a formal launch, the Shanghai Securities News reported Monday. Companies with emission demands are the first batch of participants in the market while institutional investors and individuals will be excluded in the initial stage of trading.

Jiangsu to include carbon emissions in environmental assessment

The eastern province of Jiangsu plans to include carbon emission reviews in compulsory environmental assessments for the approval of industrial parks as part of efforts to fulfill its carbon neutrality goals. The provincial government laid out its carbon control agenda this year, pledging to limit approval of new projects that involve high emissions and high power consumption.

World’s largest hydrogen fueling station enters trial operation

The world’s largest hydrogenation station, located in Beijing’s Daxing district, entered trial operations. With an area of 200,000 square meters, the station fuels approximately 10 test vehicles per day. A truck using 4.5 tons of hydrogen cells can be fueled with 9 kilograms of hydrogen in 3 minutes, which can support a journey of 350 kilometers, according to the station’s manager.

China to create global champion for salt lake development

China approved a plan to build a world-class salt lake industry base in the southwestern province of Qinghai, home of China’s largest salt lake area. According to the plan, the country will set up the China Salt Lake Group, the Salt Lake Industry Development Fund, Qinghai Salt Lake University, and the State Key Laboratory of Salt Lake. Various minerals including the sulfate, chloride and borate of sodium, potassium, magnesium and lithium are the main salt resources in Qinghai’s salt lake area.

Huayou Cobalt to launch $2.08 billion joint venture in Indonesia

Zhejiang Huayou Cobalt Co. Ltd. (603799.SH) will set up a laterite nickel joint venture in Indonesia, along with investors including Young Ray Holding Group Co. Ltd., Glaucous, EVE Asia Co. Ltd. and Lindo. With total investment of $2.08 billion (13.37 billion yuan), the venture will have annual production capacity of 120,000 tons of nickel and 15,000 tons of cobalt.

Contact editor Han Wei (weihan@caixin.com) and editor Bob Simison (bobsimison@caixin.com)

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