State Power Investment Corporation

State Power Investment Corp. (SPIC) has started operating the world’s first offshore floating solar plant integrated with an offshore wind turbine, at a pilot site off the coast of China’s Shandong province. It features floating PV tech from Norway’s Ocean Sun.

The 1.36 GW of solar capacity installed by Shanghai Electric across just three projects in 2021 and the first quarter of 2022 helped it enter an annual ranking of the global solar industry’s biggest engineering, procurement, and construction contractors.

Finland-headquartered Sumitomo SHI FW has entered a collaboration with China’s Shanghai Power Equipment Research Institute to evaluate the feasibility of long-duration energy storage using liquefied air energy storage technology.

State body the NEA has given its provincial offices until July 15th to suggest counties where a solar mandate – which rises to at least half of all government roofspace – can be rolled out. Selected companies will be awarded whole-county contracts.

Based on the price agreed for the first year of the five-year contract, the total deal would be worth almost $4 billion to the $1 billion company. However, with input costs rising and the state-owned sponsor likely to expect to pay lower fees for subsequent years, the TOPCon manufacturer’s margins may not remain so fat.

The fossil fuel assets belonging to the state-owned parent of China Power International Development might overshadow the latter’s green claims but the Hong Kong-listed utility said it reached full operation at 940 MW of solar farms in 2020–more than half of it unsubsidized.

State-owned power company SPIC is all set to contribute to the figures after announcing it wants to add 15 GW of renewables capacity during 2021 and China Glass, fresh from rebuffing Xinyi Glass’ takeover offer, is on the hunt for more manufacturing facilities.

The Italian energy company has developed four big solar plants in the last 21 months to add 794 MW of generation capacity to its 3.67 GW solar portfolio and is emblematic of companies from the wider energy sector focusing on the renewable technology.

The Chaoyang facility is the largest of the first batch of central-subsidy-free solar projects approved in the world’s biggest solar marketplace. China Power has awarded three construction contracts to entities owned by its SPIC parent company.