Caixin
Jul 08, 2021 07:54 AM
ENERGY INSIDER

Energy Insider: Baowu Steel Prepares for Mixed-Ownership Projects; First Hydrogen Heavy-Truck Fleet in Operation

In today’s Caixin energy news wrap: More than 59 billion kilowatt-hours of electricity were delivered from China’s remote Xinjiang region to 20 provinces; Guangzhou Development signs long-term LNG purchase agreement with BP Singapore; and the world’s largest steelmaker is mulling inviting more private investors.

Baowu Steel plans 41 mixed-ownership projects

China Baowu Steel Group Co. Ltd., the world’s largest steelmaker, plans to launch 41 projects under the so-called mixed-ownership reform to invite private investors into its subsidiaries, according to Zhu Yonghong, the company’s chief accountant. The plans will include five of Baowu Steel’s listed units. The steelmaker will also set up two new joint ventures with investors. China has been promoting mixed-ownership restructuring among state-owned enterprises in hopes of bringing in fresh investment and management expertise from the private sector.

Hesteel puts first batch of hydrogen-fueled heavy trucks into service

Hesteel Group, one of China’s leading steelmakers based in Hebei province, put the first batch of 39 hydrogen-fueled heavy trucks into operation, according to people.com.cn. The fleet of trucks with 49-ton capacity marks the first commercial use of hydrogen energy in heavy truck transportation. Compared with purely electric heavy trucks, hydrogen-fueled trucks offer greater range and dual power supply modes to better suit the cold winter in Northern China.

CGN’s first-half nuclear power generation up 5.12%

Nuclear power giant China General Nuclear Power Corp. (003816.SZ) said its total power generation in the first half reached 101 billion kilowatt-hours, up 5.12% from the same period last year. The amount of power connected to national grid networks totaled 95 billion kilowatt-hours, a 5.40% increase.

Guangzhou Development signs LNG deal with BP Singapore unit

Guangzhou Development Group Inc. (600098.SH) said one of its subsidiaries signed a long-term liquefied natural gas (LNG) purchase agreement with BP Singapore Pte. Ltd. to secure a stable energy supply. Under the agreement, Guangzhou Development will purchase about 650,000 tons of LNG every year from the Singaporean company between 2022 and 2034.

Clean energy developer GCL ties up with Geely in electric-car push

GCL Energy Technology Co. Ltd. (002015.SZ) set up a strategic partnership with Zhejiang Geely’s commercial vehicle unit to jointly explore battery swaps for commercial vehicles.

Zhengzhou Coal resumes operation of six mines after safety review

Henan-based Zhengzhou Coal & Electric Co. Ltd. (600121.SH) resumed production at six mines after completion of required rectifications and safety inspection, the company said. The mines have been suspended since June 15 and have combined annual production capacity of 8.25 million tons. Since the end of May, three coal mine accidents have occurred in Henan province, leading to strict mining safety supervision.

Power transmission from Xinjiang up 34% in first half

China’s power-rich Xinjiang Uygur autonomous region delivered more than 59 billion kilowatt-hours of electricity to 20 provinces in the first half of 2021, a year-over-year increase of 34%. Electricity generated from renewable energy accounts for less than 30%.

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

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