Energy Insider: Renewable Power Plants Encouraged to Add Storage, Peak-Shaving Units
In today’s Caixin energy news wrap: China’s top economic planner vows to strengthen risk management in the power system; steel industry association pledges to cut production while preventing price surges; state railway giant plans to invest $617 million in SOE structural adjustment fund
China encourages renewable power plants to add storage, peak-shaving units
China wants renewable power generators to add energy storage or peak-shaving facilities to ensure stable operation of the grid and boost renewable energy consumption, according to a statement jointly issued by the National Development and Reform Commission and the National Energy Administration. Power generators will be allowed to buy peak-shaving services from other market participants, the statement said. Peak-shaving facilities manage demand to even out spikes in consumption and could help store electricity or reduce power generation during low-demand hours and increase power output when demand spikes.
NDRC to strengthen risk management in power system
The National Development and Reform Commission (NDRC) asked for public comment on a set of draft rules for power reliability management. The draft measures make specific requests in risk management for the power industry, covering pre-warning, management and control, post-evaluation and preventive measures. Meanwhile, specific measures have been added for power generators to deal with power supply and safety risk management, as well as energy storage construction.
Qinghai Salt Lake resumes trading after returning to profitability
Shares of Qinghai Salt Lake Industry Co. Ltd. (000792.SZ), China’s largest potash fertilizer company, soared 306% as it resumed trading Tuesday after a 15-month suspension due to its bankruptcy restructuring. Salt Lake shares closed at 35.9 yuan ($5.54), for a market value of 195 billion yuan. Shares of the company jumped as China announced a plan to extract lithium carbonate for electric-vehicle batteries from salt lake brine. The company’s quick rebound to profitability last year also boosted the stock.
Steel Industry vows to curb irrational price rises
While reducing crude steel output, the steel industry will pay close attention to changes in downstream steel demand and stockpiles, taking timely measures to curb irrational price rises of raw materials and maintaining stability in the market and industry chain, the China Iron & Steel Association said Tuesday on its WeChat channel.
Steel industry faces ‘absolute constraint’ on carbon emissions
A draft plan for topping out carbon emissions by the steel industry is being distributed for comments, Economic Information Daily reported. The plan maps out the carbon reduction potential of the industry and identifies key tasks for reaching specific goals. The steel industry is facing a shift from the "relative constraint" of carbon emissions intensity to the "absolute constraint" of total carbon emissions.
China Railway to invest $617 million in SOE structural adjustment fund
China Railway Group Ltd. (601390.SH) said its China Railway Capital Co. Ltd. subsidiary plans to take part in the second batch of investment in a national fund for structural adjustment of state-owned enterprises. The registered capital of the fund is expected to be 73.75 billion yuan ($11.4 billion), of which China Railway Capital will contribute 4 billion yuan ($617 million), representing a stake of 5.42%. Joining the fund could be beneficial for the company to further participate in the integrated development of the Yangtze River Delta, especially the investment in and construction of new infrastructure.
Trina Solar to raise $810 million for advanced solar cell and module projects
Solar panel maker Trina Solar Co. Ltd. (688599.SH) plans to sell as much as 5.25 billion yuan ($810 million) of convertible bonds, with the proceeds to be invested mainly in its high-efficiency solar cell and module projects in Yancheng and Suqian, Jiangsu province, the company said. Trina Solar is expected to produce more than 50 gigawatts of modules by the end of 2021.
CALB invests $3.83 billion in lithium battery project in Hefei
China Lithium Battery Technology Co. Ltd. (CALB) signed an investment agreement with the government of Hefei to build a lithium battery project with an investment of 24.8 billion yuan ($3.83 billion) in Changfeng county in Hefei, Anhui province. The project is expected to have an annual capacity of 50 gigawatt-hours upon completion. They will work together on promoting construction of a phase I project as soon as possible while pushing for more related projects.
Contact editors Han Wei (firstname.lastname@example.org) and Bob Simison (email@example.com)
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