2024-08-22 06:40:00
CHINA'S ENERGY UPGRADES
REUTERS - Aug 21, 2024 - China's state planner has called for more investment in equipment upgrades to help support the energy transition, saying the market should play a leading role.
A Wednesday notice issued by the National Development and Reform Commission calls for a 25% increase in investments to upgrade China's energy equipment from 2023 to 2027.
The investments will support a program of equipment upgrades and consumer goods trade-ins launched by China's cabinet in March, the notice said. That program seeks to boost investment and consumption amid a shaky economic recovery.
The energy upgrade plan calls for investment in areas including energy conservation, coal power plant flexibility, and renewable and power grid technologies, all areas Beijing has signaled will be key to the transition away from coal to lower-carbon power.
It also calls for financial institutions to increase their support for equipment upgrades and extend more medium- and long-term loans to the manufacturing industry.
The plan reiterates some existing regulations on equipment upgrades, such as one stating that wind farms older than 15 years, or with less than 1.5 megawatts (MW) of capacity, should be retrofitted.
A cabinet meeting in late July said China would step up support for its program of equipment upgrades, focusing on the energy, electricity and battery sectors.
-----
Earlier:
2024, July, 30, 06:15:00
CHINA GRID INVESTMENT $83 BLN
State Grid Corp. of China, which covers more than 80% of the country, will increase spending 13% to 600 billion yuan ($83 billion) this year, the Economic Information Daily reported, citing a budget plan.
2024, June, 19, 06:40:00
CHINA'S CLEAN ENERGY
Thermal power, which accounts for the bulk of China’s carbon footprint, fell 4.3% in May from the previous year, the biggest drop since 2022, the statistics bureau reported on Monday.
2024, May, 14, 06:35:00
CHINA NEED GAS & COAL
Even as China has dramatically ramped up wind and solar in recent years, its power demand, including from electric vehicles, continues to outpace new supply, creating an ever greater need for fossil fuels.
2024, May, 3, 06:45:00
CHINA'S NUCLEAR ACCELERATING
China has the world’s largest nuclear fleet and aims to produce 10% of its electricity from nuclear power by 2035 and 18% by 2060 to enhance energy security and advance decarbonisation goals.
2024, February, 9, 06:25:00
CHINA NEED LNG
Market players said the truck LNG price in China has continued to decline, with an average price of around Yuan 4,100/mt as of Feb. 7, marking a decrease of approximately 15% compared with the average price in 2023. Additionally, specific regional prices have dipped below Yuan 3,600/mt due to factory closures and reduced production during the festive season, sources said.
2024, January, 29, 06:40:00
CHINA NEED OIL & GAS
CNOOC expects production to continue growing over the next two years, with plans to reach 2.25 million boe/d in 2026.
2024, January, 22, 06:45:00
CHINA'S NUCLEAR BATTERY: 50 YEARS
Betavolt, which was established in April 2021, says its battery "combines nickel-63 nuclear isotope decay technology and China's first diamond semiconductor (4th generation semiconductor) module to successfully realise the miniaturisation of atomic energy batteries".
