Energy Insider: Longyuan Power Inks Carbon Trading Deal in South Africa; Tongwei Plans $2.2 Billion High-Purity Silicon Project

In today’s Caixin energy news wrap: Chinese offshore drilling rig giant gets $129 million SOE cash injection; Tongwei plans to invest $2.2 billion in high-purity silicon project; a power complex will be built in Huizhou; and China develops new power generation using hot dry rock.

Longyuan Power inks $1.1 million overseas carbon trading deal

The South Africa branch of China Longyuan Power Group Co. Ltd., a subsidiary of state-owned China Energy Group, signed a $1.1 million carbon trading contract in South Africa for 630,000 tons of emission quota. The firm's De Aar wind power project is the only large-scale renewable energy project registered in South Africa that meets voluntary emission reduction standards under which emission quota buyers pay to fulfill voluntary emission reduction obligations.