Caixin
Jul 01, 2021 07:56 AM
ENERGY INSIDER

Energy Insider: Shanxi Regulator Warns of Risks in Power Transactions; Datang Clean Energy Unit Names New Chief

In today’s Caixin energy news wrap: State Power Investment ties up with Sungrow to tap new-energy development; China Shenhua’s carbon capture project completes trial run; China Datang’s new-energy unit gets new chairman; and Shanxi regulators warn of risks in power deals.

Shanxi energy regulator warns of financial risks in power buying

The energy administration of China’s coal-rich Shanxi province warned of risks related to power market transactions. The administration alerted large electricity customers Monday to closely monitor electricity purchase transactions with retailers and be aware of potential financial risks. China’s electricity market has experienced tightening supply as rising coal prices have discouraged power generation and pushed up wholesale prices. Some retailers suffered losses as the prices they paid to generators exceeded their prices to end users.

Datang Renewable Power chairman resigns

China Datang Corp. Renewable Power Co. Ltd., China’s second-largest wind power generator, said Chairman Kou Wei resigned. Kou will remain the company’s nonexecutive director. General Manager and Executive Director Liu Guangming will succeed Kou as chairman. Datang Renewable Power is the clean energy subsidiary of state-owned power giant China Datang Group.

State Power Investment sets up strategic partnership with Sungrow

State Power Investment Corp. Ltd. signed a strategic cooperation agreement with Sungrow Power Supply Co. Ltd. covering a wide range of businesses including new-energy innovation, power station development, hydrogen energy and energy storage.

Shenhua carbon capture project completes 168-hour trial operation

China Shenhua Energy Co. Ltd. (601088.SH ) said Tuesday that its post-combustion carbon capture and storage project in Shaanxi completed a 168-hour test run. The project, run by Shenhua affiliate Shaanxi Guohua Jinjie Energy Co. Ltd., recorded more than 90% capture of carbon dioxide. The concentration of the captured carbon dioxide reached more than 99%.

Envision Group to build battery factory in Douai, France

Envision Group subsidiary Envision AESC signed a strategic partnership with French Renault Group, Envision said Tuesday. Under the partnership, Renault will provide Envision with five years of orders for batteries. Envision AESC will build a factory in Douai, which is expected to reach an annual capacity of 24 gigawatt-hours by 2030, potentially rising to 40 gigawatt-hours.

Zhonghuan Semiconductor cut silicon wafer price 10% in June

Zhonghuan Semiconductor Co. Ltd. (002129.SZ) reduced prices of silicon wafers 10% in June despite a continued rise in raw material costs. The price reduction came as silicon material prices showed signs of slower growth. According to PV InfoLink, the average price of silicon materials settled at 206,000 yuan ($31,873.20) per ton last week, with the peak reaching 215,000 yuan per ton.

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

Download our app to receive breaking news alerts and read the news on the go.

Follow the Chinese markets in real time with Caixin Global’s new stock database.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin Biz Roundup: China’s Covid Caseload Hits Six-Month High
00:00
00:00/00:00