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.