Caixin
May 29, 2021 06:34 AM
ENERGY INSIDER

Energy Insider: China National Nuclear and CATL Set Up Joint Venture; Guangdong Cranks Up Urban Natural Gas Coverage

A solar power project in Yangzhou, Jiangsu province.
A solar power project in Yangzhou, Jiangsu province.

In today’s Caixin energy news wrap: China National Nuclear Corp. and CATL units will set up a 50-50 new-energy joint venture; Guangdong vows urban natural gas coverage will top 70% by 2025; China’s National Energy Administration studies the impact of rising solar module prices and the chip shortage on the photovoltaic industry.

CNNC establishes joint venture with CATL subsidiary

State-owned China National Nuclear Corp.’s CNNC Hua Yuan Titanium Dioxide Co. Ltd. (002145.SZ) unit and a subsidiary of Contemporary Amperex Technology Co. Ltd. (CATL) agreed to set up a 50-50 new-energy joint venture, CNNC said Thursday. The joint venture aims to promote investment, construction and operation of comprehensive, intelligent new-energy programs such as solar and wind power generation and energy storage. The joint venture’s registered capital is 100 million yuan ($15.7 million).

Guangdong vows urban natural gas coverage will top 70% by 2025

Guangdong province plans to expand natural gas coverage to more than 70% of urban households by 2025, the government said Wednesday. Annual natural gas consumption will reach more than 20 billion cubic meters by then, according to the plan. The government also vowed to regulate natural gas prices for end users.

NEA studying policies for solar panel industry management and pricing

China’s National Energy Administration is looking into rising prices in the new-energy industry, including its impact on the photovoltaic power industry. The regulator said it’s working with relevant parties to explore next steps and study management and pricing policies for the solar power generation industry. The comments were in response to online questions about the impact of rising solar module prices and the chip shortage on the photovoltaic industry.

Sinopec’s first gas storage unit in Northeast China enters operation

Sinopec’s first gas storage facility in Northeast China went into operation in Jilin province more than 20 days ahead of schedule, the official Xinhua News Agency reported Thursday. With a peak capacity of 200,000 cubic meters a day, it can meet the daily gas demands of 400,000 households. This year, Sinopec will continue gas storage construction in the Zhongyuan, Shengli, Northwest and Northeast oil fields.

Central government SOEs should cut outdated capacity, vice premier says

At the first plenary meeting of the Leading Group on Carbon Peaking and Carbon Neutrality in Beijing Wednesday, Vice Premier Han Zheng called for enterprises owned by the central government to set up plans to achieve peak carbon emissions, define targets and tasks and take the lead in reducing outdated capacity and promoting low-carbon, zero-carbon and carbon-negative technologies, the official Xinhua News Agency reported Thursday.

China’s large industrial enterprises more than double profits in first four months

The profits of big industrial enterprises more than doubled in the first four months of the year to 2.59 trillion yuan ($406.4 billion) and were up 49.6% compared with the same period in 2019, according to data from by the National Bureau of Statistics. Mining enterprises posted profits of 217.13 billion yuan, and the manufacturing sector’s earnings increased 114% to 2.2 trillion yuan.

Electricity market transactions grow more than 60% in first four months

China’s power exchange centers traded a total of 1.06 trillion kilowatt-hours of electricity in the first four months of 2021, up 64.2% from the same period last year, according to data from the China Electricity Council. Directly traded electricity totaled 863.3 billion kilowatt-hours, an increase of 69.5% over the same period last year, accounting for 33.7% of all social electricity consumption.

Former chairman of Sichuan Energy Industry Investment fired for corruption

Former Chairman Guo Yong of state-owned Sichuan Energy Industry Investment Group Co. Ltd. was kicked out of his position and the Communist Party for receiving almost 30 million yuan ($4.7 million) of bribes, according to the Central Commission for Discipline Inspection of the Communist Party. Former Deputy General Manager Li Changwei was expelled from the party for taking 10 million yuan of bribes. Both cases were referred to prosecutors.

Shanxi province signs strategic cooperation agreement with China Energy Investment

The Shanxi provincial government and China Energy Investment Corp. signed a strategic cooperation agreement Wednesday. They will work together on innovation in energy technology and energy sectors including coal, thermal power, new energy and renewable energy, coal chemical processing, transportation, environmental protection and coal equipment.

MIIT studies steel production constraints

China’s Ministry of Industry and Information Technology (MIIT) will work with the National Development and Reform Commission and other departments to review the industry’s capacity reductions in recent years and explore the establishment of production constraints based on carbon emissions, pollutant discharge and total energy consumption, Lyu Guixin, an inspector of the Raw Material Industry Division under the MIIT, said Thursday at the 11th China International Steel Conference. Lyu said the major approaches to reducing carbon emissions in the steel industry include limiting crude steel output, raising the proportion of short-process electric furnace steel and developing hydrogen metallurgy.

Contact editor Bob Simison (bobsimison@caixin.com)

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