One of China’s largest state-owned energy enterprises, China Energy Engineering Corporation, or Energy China (CEEC), announced last week that it had signed an agreement with the government of Erdos, in Inner Mongolia, to build a 6 GW renewable energy complex. The huge project will include 1 GW of wind power, 5 GW of solar, and an unspecified capacity of energy storage. Total investment will amount to around RMB23.8 billion (US$3.64 billion). The new plant will be able to generate around 33 TWh of power annually and will be connected to the transmission network of a 2 GW coal-fired power station located nearby.
Another Chinese state-owned energy company, State Power Investment Corporation (SPIC), announced last week that its Fujian-based unit has signed a cooperation agreement with GS-Solar and the government of Putian City, Fujian province, to build a new heterojuction solar cell production facility with a capacity of 5 GW.
China Glass on Monday announced plans to move four solar glass production lines into one location at the Suqian High-Tech District in Jiangsu province.
Polysilicon maker Xinte Energy has signed a five-year, 270,000-ton deal to supply raw polysilicon materials to seven subsidiaries of solar manufacturer Longi. The product will be supplied monthly, with the prices determined at the same intervals, starting next month, and the contract will run until December 2025. Based on the December price of RMB80,500/ton (US$12,300) announced by the silicon industry branch of the China Non-ferrous Metals Industry Association, the arrangement would be worth RMB19.2 billion plus tax. The arrangement replaces a three-year, 91,000-ton contract announced by TBEA-owned Xinte in July 2018, which has been in effect since January last year.
China Shuifa Singyes Energy has spent US$4.79 million buying back US$5.2 million worth of three-year, 2% cash/4% payment-in-kind senior notes issued a year ago in a US$415 million fundraising round on Singapore Exchange Securities Trading Ltd.
Chinese president Xi Jinping revealed more details about his nation's net zero pledge on Saturday and trade body the China Photovoltaic Industry Association (CPIA) has estimated the country could add 70-90 GW of new solar annually up to 2025, under the terms of its next five-year plan. China's 14th strategy document for the economy is expected to be published in March and, if it lives up to the CPIA's expectations, could see the nation install even more solar and wind generation capacity than the 1.2 TW promised by President Xi by 2030.
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