Gulf states are pouring money into Iraq

Twenty years after the Iraq War, Saudi Arabia, the United Arab Emirates, Qatar and other Gulf countries have for the first time invested billions of dollars in housing and other sectors in Iraq, setting off an investment boom in Iraq. Saudi Arabia says it has invested more than $5 billion in various sectors in Iraq, particularly housing projects in Baghdad. Saudi Arabia's sovereign wealth fund, PIF, said it would set up a $3 billion investment arm in Iraq that would cover infrastructure, mining, agriculture, real estate development and financial services. The Saudi ambassador to Iraq said that Iraq's "Baghdad Avenue" project is the largest Saudi investment project in Iraq, the investment scale of about 1 billion dollars, will build shopping malls, 4,000 apartments and 2,500 villas. The United Arab Emirates, the first Gulf country to invest in Iraq, said it was optimistic about real estate projects in the Iraqi capital Baghdad and would expand its investment in Iraq. The UAE company Emaar plans to invest $3 billion in housing projects in Baghdad. Qatar is investing in the Baghdad housing project in a public-private partnership of an unspecified size, and said it would increase its investment in Iraq. Iraqi government officials said Baghdad will have 10 real estate projects announced in the future, with an initial estimate of about $15 billion worth of projects, which are backed by investment from Saudi Arabia and other Gulf countries. Editor/Xu Shengpeng

In the first two months, the railway completed investment in fixed assets

On March 9, it was learned from China National Railway Group Co., LTD. (hereinafter referred to as the "National Railway Group") that in the first two months of this year, the national railway fixed asset investment completed 65.2 billion yuan, an increase of 9.5% year-on-year, high-quality and efficient railway construction was promoted, the construction of key projects was progressing smoothly, and the construction of railway modernization infrastructure system was accelerated. The person in charge of the relevant departments of the National Railway Group introduced that since the beginning of this year, the National Railway Group has scientifically coordinated the construction resources, rationally optimized the construction organization, strengthened safety and quality control, and promoted the construction of railway projects with high quality. The construction of 138 work sites in 40 key projects, including the Chongqing-Kunming high-speed railway and the Xi 'an to Chongqing high-speed railway, continued during the Spring Festival holiday, and other projects resumed work immediately after the holiday. Editor/Xu Shengpeng

Globally, government renewable energy tenders will add 137GW in 2023

Research firm Wood Mackenzie recently released a research report pointed out that through government tenders, the world will install 137GW of renewable energy generation capacity in 2023. In the 2023 government tender, photovoltaic systems remained the most successful renewable energy source, but its share of total installed renewable energy capacity fell from 59 percent to 44 percent. The company expects government tenders in 2024 to reach at least 2023 levels. In last year's government tender, photovoltaic systems were the most successful renewable energy sources. The Asia-Pacific region received two-thirds of the world's government procurement contracts, or about 90GW. China allocated more than 55GW of renewable energy through 49 tenders. India has allocated 20GW of renewable energy in 55 renewable energy tenders. Germany was the largest player in Europe, allocating 19GW of renewable energy through 11 rounds of tenders. Wood Mackenzie predicts that by 2024, government tenders will drive the installation of 102GW of renewable energy generation facilities worldwide, including more than 60GW of offshore wind. The company expects renewable capacity to continue to grow over time, eventually reaching 2023 levels. Editor/Xu Shengpeng

The Beijing-Tianjin-Hebei region reldinated energy development

Recently, the Beijing-Tianjin-Hebei Coordinated Energy Development Action Plan (hereinafter referred to as the "Action Plan") jointly prepared by the Beijing-Tianjin-Hebei Development and Reform Commission was officially issued. The goal of the action plan is to build a clean, low-carbon, safe and efficient, open and cooperative regional energy system by 2025, and provide solid and reliable energy guarantee for jointly building a pilot zone and demonstration zone of Chinese-style modernization. The action plan sets out six main tasks. It includes promoting energy infrastructure connectivity in a coordinated manner and building a pilot zone for the construction of a smart energy system; Jointly cultivate green and low-carbon energy consumption models and build demonstration zones for energy consumption revolution; Build a clean and diversified energy supply system in a coordinated manner, and develop a secure, stable and reliable regional energy supply pattern; Jointly build an efficient integrated energy innovation system, and build a number of key demonstration zones with high quality; Jointly establish a fair and open energy mechanism and build a business environment for integrated regional energy development; We will jointly carry out multi-level and multi-field energy cooperation and promote high-quality energy development in the Beijing-Tianjin-Hebei region. Editor/Xu Shengpeng

Eight new energy projects were scrapped in Inner Mongolia

Recently, the Inner Mongolia Energy Bureau issued the "Announcement on the abolition of the second phase of the new energy" in the region. In order to fully implement the market-oriented new energy project "can enter, can exit" mechanism, enterprises can at any time declare market-oriented new energy projects, can also apply at any time to abolish the approved but difficult to promote market-oriented new energy projects, to avoid the new energy projects that cannot be implemented to occupy land and other resources. According to the work arrangement, the market-oriented grid-connected new energy projects abolished in the league cities from November 1, 2023 to January 31, 2024 were announced, and a total of 1.77GW of new energy projects were abolished. Editor/Xu Shengpeng

IEA: The global renewable energy installed capacity in 2023 is nearly 510GW

In a recent groundbreaking report, the International Energy Agency (IEA) said that the world will install nearly 510GW of renewable energy capacity in 2023, a 50% surge compared to the previous year. This growth was primarily driven by the rapid growth of photovoltaic systems installed worldwide, which accounted for three-quarters of new renewable energy capacity installed worldwide. China has become a global renewable energy powerhouse, with as much installed PV system capacity in 2023 as will be installed worldwide in 2022, while wind power installations soared 66% year on year, showing impressive growth. Europe, the United States and Brazil also experienced record high growth in installed renewable energy capacity. The Renewable Energy 2023 Report, published by the International Energy Agency, is the first comprehensive assessment report released after the COP28 climate conference. According to the report, under current policies, the cumulative installed capacity of renewable energy generation facilities worldwide is expected to reach 7,300GW by 2028. This forecast shows that photovoltaic systems and wind power are the main contributors to the growth of global renewable energy installed capacity, accounting for 95%. Notably, by early 2025, renewable energy is expected to overtake coal as the world's main source of electricity. However, despite this significant progress, further efforts are needed to achieve the goal of tripling installed renewable energy capacity by 2030. Editor/Xu Shengpeng

Finland lifts emergency planning zone restrictions for nuclear power plants

The new regulations of the Finnish Radiation and Nuclear Safety Authority (STUK) no longer require a 5 km preventive action zone and a 20 km emergency planning zone around all nuclear power plants, but instead adopt a method of determining the protection zone based on a site-specific situation analysis and will be implemented from February 1, 2024. Under the new rules, applicants for nuclear power plant licenses must separately explain to regulators each time what protected areas are needed to ensure safety, on a case-by-case basis. Under the new regulations, people and the environment must remain safe. When determining the size of the Preventive Action Area (PAZ), it should be demonstrated that in the event of an accident, the radiation dose of an unprotected person outside the PAZ will not exceed 1 Sv for 10 hours after the start of irradiation. When determining the size of the Emergency Planning Area (EPZ), it should be demonstrated that in the event of an accident, the radiation dose of an unprotected person outside the EPZ will not exceed 10 mSv for 48 hours after the start of irradiation. The maximum distance of the EPZ can be limited to 20 km. The new rules apply to all potential nuclear power plants. For the much-watched small modular reactors, the change means plants can be built closer to residents than under the old regulations if their safety can be demonstrated. Editor/Xu Shengpeng

The installed capacity of solar power generation exceeded 600 million kW

The "2023-2024 National Electricity supply and Demand Analysis and Forecast Report" (hereinafter referred to as the "Report") released by the China Electricity Council on the 30th shows that: as of the end of 2023, the installed capacity of the national full-caliber power generation capacity of 2.92 billion kilowatts, an increase of 13.9%. Per capita installed power generation capacity exceeded 1 kW/person at the end of 2014, and exceeded 2 kW/person for the first time in 2023. The share of coal power installed capacity fell to 39.9%, falling below 40% for the first time. The first time that the share of coal power installed capacity fell below 50% was at the end of 2020. In 2023, the green and low-carbon transformation trend of the power industry will continue to advance, and the development of new energy will achieve "three consecutive jumps". First of all, the total installed capacity of grid-connected wind power and solar power generation in the country has continuously broken through the 800 million kilowatts, 900 million kilowatts and 1 billion kilowatts from the end of 2022, and reached 1.05 billion kilowatts by the end of 2023, accounting for 36% of the total installed capacity, an increase of 6.4 percentage points year-on-year. Among them, the installed scale of grid-connected solar power generation increased from 390 million kilowatts at the end of 2022 to 610 million kilowatts at the end of 2023. Looking at investment, in 2023, the key survey enterprise power investment increased by 30.1% year-on-year, of which non-fossil energy power generation investment increased by 31.5% year-on-year, accounting for 89.2% of power investment. Investment in solar power, wind power, nuclear power, thermal power and hydropower increased by 38.7%, 27.5%, 20.8%, 15% and 13.7%, respectively. Editor/Xu Shengpeng

China's investment and cooperation in the Belt and Road Initiative in 2023

In 2023, Chinese enterprises invested 224.09 billion yuan in non-financial direct investment in countries jointly building the Belt and Road, an increase of 28.4% over the previous year (US $31.8 billion, an increase of 22.6%). In terms of foreign contract projects, Chinese enterprises signed 1,600.73 billion yuan of new contract projects in jointly building countries under the Belt and Road Initiative, an increase of 10.7% (US $227.16 billion, an increase of 5.7%). Turnover was RMB930.52 billion, up 9.8% (US $132.05 billion, up 4.8% in US dollars). Editor/Xu Shengpeng

By 2023, 269 billion yuan will be invested in major projects in Gansu

The reporter learned from the Gansu Provincial Development and Reform Commission that in 2023, Gansu will focus on stabilizing investment and promoting growth on recruiting large projects and building large projects, forming a good situation of accelerating project construction, increasing investment, and accelerating development quality and efficiency. The major projects in 287 provinces in the province completed the annual scheduling target of 251.1 billion yuan one month ahead of schedule, and the annual investment was 269 billion yuan, with the annual planned investment completion rate of 107%. In order to make good project planning, Gansu province in accordance with the work idea of "doing this year, thinking about next year, and preparing for the next year", focusing on the "Belt and Road" initiative, the promotion of western development in the new era, ecological protection and high-quality development of the Yellow River Basin and other national strategies, planned a number of major projects that are strong foundation, long-term management, and benefit the overall situation and carried out preliminary work in advance. And timely issued the "Gansu Provincial Major Project Investment Plan in 2023", including 287 projects, a total investment of 1.6 trillion yuan, the annual

China is ready to carry out cooperation on major projects with Uzbekistan

The two heads of state announced that China and Ukraine have decided to develop an all-weather comprehensive strategic partnership for a new era and promote the building of a China-Ukraine community of shared future from a higher starting point. China and Uzbekistan share similar development goals and concepts. The two sides can actively synergize the eight initiatives China has taken to support high-quality Belt and Road cooperation, tap the potential of traditional cooperation, implement the medium - and long-term cooperation plan on economy, trade and investment, introduce more investment and trade facilitation measures, and expand cooperation in infrastructure and agricultural high-tech parks. China is willing to import more quality products from Uzbekistan. The two sides should launch the construction of the China-Kyrgyzstan-Uzbekistan railway project at an early date, advance "hard connectivity" and "soft connectivity" simultaneously, and build a three-dimensional connectivity network to help Uzbekistan transform from a land-locked country to a land-linked country. China is willing to expand cooperation with Uzbekistan on the whole industrial chain of new energy vehicles and carry out cooperation on major projects such as photovoltaic, wind power and hydropower, so as to support Uzbekistan's green economy development strategy and promote sustainable development. The two sides also need to actively carry out poverty reduction cooperation, expand and deepen local cooperation, and build more projects to benefit the people. Editor/Xu Shengpeng

By 2023, global renewable energy capacity will increase by 510 million kilowatts

On January 25, the National Energy Administration held a press conference, and Pan Huimin, deputy director of the Department of International Cooperation, said that China plays a pivotal role in the development of global clean energy. According to the latest data, in 2023, the global renewable energy installed capacity of 510 million kilowatts, of which China's contribution of more than 50%. China has become an indispensable force in the world's clean energy development. In terms of investment, overseas clean energy investment by Chinese enterprises has spread across major countries and regions, covering wind power, photovoltaic power generation, hydropower and other major fields, which has strongly supported the green and low-carbon energy development of relevant countries on the basis of mutual benefit and win-win results. In terms of industry, China continues to promote technology and product innovation to actively integrate into the global clean energy industry chain, and constantly share high-quality clean energy products with the world. At present, China's wind power and photovoltaic products have been exported to more than 200 countries and regions around the world, with cumulative exports exceeding US $33.4 billion and US $245.3 billion, respectively. The International Renewable Energy Agency report pointed out that in the past decade, the average kilowatt-hour cost of global wind power and photovoltaic power generation projects has decreased by more than 60% and 80%, respectively, which is largely attributed to Chinese innovation, Chinese manufacturing and Chinese engineering. While supporting the development of global clean energy, China welcomes enterprises from all over the world to invest and do business in China, and continues to build a market-oriented, law-based and internationalized business environment to jointly promote the development of clean energy and advance the global energy transformation. Editor/Xu Shengpeng

2023 solar company financing reached the highest level in 10 years

According to Mercom Capital Group's latest report on financing and mergers and acquisitions (M&A) activity in the solar industry, solar companies raised $34.3 billion in corporate financing last year, the largest amount in a decade. The total amount raised came from 160 deals, an increase of 42% compared to 2022 (175 deals raised a total of $24.1 billion). Last year, funding from private markets reached $7.4 billion, up 45 percent from the previous year and the second-highest figure since 2013. At the same time, solar companies raised $20 billion in debt financing, up 67 percent from last year and the highest level in the past decade. Mercom Capital Group said securitization activity was the main contributor to the financing, raising a total of $3.4 billion from 11 deals. Funding from solar venture capital activity fell 1% from last year, with 69 deals raising $6.9 billion in 2023. Of this, $4.7 billion (68%) went to 42 downstream solar companies. In addition, solar companies raised $1.9 billion, systems companies raised $311 million, and service providers raised $32 million. Editor/Xu Shengpeng

Key wind power projects in Shandong Province were announced

On January 12, the People's Government of Shandong Province issued the Notice on Issuing the List of Major Projects in the Province in 2024. The Notice pointed out that Shandong Province will have eight key implementation projects in 2024, with a total installed capacity of 12,118.5 MW. According to the data, the 510,000 kW offshore wind power project at BW site North of Huaneng Peninsula is the key project to implement the strategic cooperation agreement between Huaneng Group and the Shandong Provincial government. The installed capacity of the project is 510,000 kW, and 60 8.5MW wind turbines are installed. After the completion of the project, the annual power generation is about 1.6 billion KWH, saving 510,000 tons of standard coal, and reducing 1.24 million tons of carbon dioxide, which is of great significance to promote the large-scale development of offshore wind power base in Shandong Province and the construction of a strong Marine province. Editor/Xu Shengpeng

2023 national water conservancy construction completed investment hit a new high

"Since the beginning of this year, under the premise of ensuring the quality and safety of the project, the Ministry of Water Resources has made every effort to accelerate the construction of water conservancy infrastructure, and achieved the annual target of completing the investment of more than 1 trillion yuan in the national water conservancy construction one month ahead of schedule, surpassing last year's level and setting a new historical record." On December 12, Chen Min, Vice Minister of Water Resources, introduced the progress of water infrastructure construction at a press conference of the State Information Office, said that from January to November, 27,300 new water conservancy projects were started nationwide, an increase of 2,585 over the same period last year, an increase of 10.5%; Among them, there were 1,879 projects with an investment scale of more than 100 million yuan, 528 more than the same period last year. Data show that from January to November, the national implementation of water conservancy construction investment of 1,156.5 billion yuan, an increase of 0.9%. The national investment in water conservancy projects reached 1,093.8 billion yuan, an increase of 8.5% year on year and exceeding the total investment of the whole of last year. This year, the construction of water conservancy projects in China has accelerated, and a number of major projects have achieved important targets. The country has implemented the reinforcement of 3,628 dangerous reservoirs, the rehabilitation of 999 small and medium-sized rivers, and the construction and modernization of 598 large and medium-sized irrigation areas, improving the ability to provide water supply to 82.13 million rural people, and controlling soil erosion on 12,700 square kilometers of land. From January to November, water conservancy construction created 2.573 million jobs, up 9.1% year on year, and paid 50.48 billion yuan in wages, up 40.6% year on year. Large-scale water infrastructure construction has played an important role in stabilizing growth and employment. Editor/Xu Shengpeng

Two departments regulate pumped storage power plants

On December 1, the National Development and Reform Commission, the National Energy Administration issued the "Pumped storage power station development and construction Management Interim measures (draft for comments)" pointed out that the National Energy Administration under the guidance of the National Development and Reform Commission, the development of pumped storage medium and long-term development planning, proposed development goals, main tasks, project layout, construction timing, safeguard measures, etc., to guide the development of pumped storage. The key implementation projects of each five-year planning period proposed in the medium - and long-term development plan are the basic basis for the approval of pumped storage projects in all provinces (autonomous regions and municipalities). Editor/Xu Shengpeng

China and Uzbekistan signed an agreement on cooperation in renewable energy

On October 17, Zhang Jianhua, Director of the National Energy Administration authorized by the Chinese government, and Jurabek Mirzamahmudov, Minister of Energy authorized by the Uzbek Government, jointly signed the Agreement between the Government of the People's Republic of China and the Government of the Republic of Uzbekistan on Cooperation in the Field of Renewable Energy in Beijing. According to the agreement, the two sides will further deepen and expand cooperation in renewable energy power generation, the construction and renovation of related supporting power grids, technical equipment, and scientific and technological innovation. Editor/Xu Shengpeng

UAE joins hands with Malaysia to build 10GW renewable energy projects by 2025

On October 6, Malaysian Prime Minister Anwar Ibrahim said that the UAE will jointly develop 10 gigawatts of renewable energy projects with Malaysia by 2025, worth US$8 billion. The above-mentioned investment plan is part of a memorandum of understanding signed during a meeting between representatives of the Malaysian Investment Development Authority and Abu Dhabi Future Energy Company (Masdar) in the United Arab Emirates on Thursday. The Malaysian government aims to have 70% of its overall energy installed capacity come from renewable energy sources by 2050. As of the end of March this year, this figure was about 25%. The Malaysian government estimates that 637 billion ringgit ($135 billion) of investment is needed to achieve this goal. Anwar also said that Malaysia and the UAE will concretely advance relevant cooperation through an investment agreement between MIDA and the UAE International Investors Council. Editor/Xu Shengpeng

Inner Mongolia Hangjin Banner expands scenery installed capacity

Recently, the Office of the People's Government of Hangjin Banner, Inner Mongolia issued a notice on the issuance of the "Implementation Opinions of Hangjin Banner on Strengthening Standardized Service Management to Promote the High-Quality Development of New Energy." The "Notice" pointed out that during the 14th Five-Year Plan period, we will strive to achieve a total wind power and photovoltaic installed capacity of 25 million kilowatts, strictly implement wind power and photovoltaic industry construction standards, provide supporting services through state-owned enterprises, build a community of shared future for regional services and management, and guide The new energy industry will develop in a healthy and orderly manner, achieve a development pattern in which the government is proactive, the market is effective, and enterprises are beneficial, and the organic integration of new energy development with the protection and management of mountains, rivers, forests, farmlands, lakes, grass and sand will be achieved, and a new energy construction benchmark will be created. Implement new energy + ecological comprehensive management. When planning and constructing wind power areas, we must fully consider the living habits of surrounding organisms and take necessary measures to reduce the impact of wind power projects on the ecological environment. After the construction is completed, the soil layer and vegetation will be restored at the wind turbine site, both sides of the road, and exposed hillside. Implement new energy + rural revitalization. Expand new energy + diversified utilization, adapt to local conditions, encourage wind power projects to help rural revitalization, extend production and processing, warehousing and logistics and other industrial chains, strive for special policies and financial support for agriculture, forestry and animal husbandry, expand product supply and marketing channels, and create an integration of new energy + modern agriculture and animal husbandry chemical demonstration project. Editor/Xu Shengpeng

Construction of the China-Russia East Route natural gas pipeline began

On the morning of September 20, 2023, the opening ceremony of the China-Russia East Route Nenjiang Branch gas pipeline project was held. After the completion of the project, it is of great significance to improve the energy structure of industrial enterprises along the pipeline and the surrounding areas, drive the economic and social development of the regions along the pipeline, help the construction of natural gas pipeline network in Heilongjiang Province, improve the reliability and flexibility of natural gas supply in the province, and promote the country to achieve the dual-carbon goal as soon as possible. Editor/Xu Shengpeng

The investment ratio of clean energy to fossil energy increased to 1.7:1

Recently, the International Energy Agency's "2023 World Energy Investment" report was released in Beijing. Tim Gould, chief energy economist at the International Energy Agency, said that five years ago, the ratio of investment in clean energy to fossil energy was 1:1; now the ratio is 1.7 to 1. At the same time, investment in solar energy will surpass investment in oil production for the first time in 2023. In recent years, driven by economic growth, rising fossil fuel prices, and policy support, investment in the clean energy sector has maintained strong growth. Global energy investment is expected to reach $2.8 trillion in 2023, of which more than $1.7 trillion will be invested in clean energy, including renewables, electric vehicles, nuclear power, grids, energy storage, low-emission fuels, energy efficiency improvements and heat pumps, Gould said. At the same time, the gap between clean energy and fossil fuel investment is widening. Five years ago, the ratio of investment in clean energy to fossil energy was 1:1; today, the ratio has increased to 1.7 to 1. At the same time, solar investment will surpass oil production investment for the first time in 2023. In terms of fossil energy, more than $1 trillion is expected to be invested in traditional energy sources such as coal, natural gas and oil by 2023. Upstream oil and gas investment will grow by 7%, but will not return to pre-pandemic 2019 levels. Editor/Xu Shengpeng

Cross-border electricity trade between China and ASEAN countries

In the past 20 years, China and ASEAN cooperation in the field of energy and power has yielded fruitful results, China Southern Power Grid Company released data on the 17th, China Southern Power Grid through the ASEAN national grid connected to achieve a cumulative cross-border two-way power trade of nearly 70 billion KWH. In 2004, China Southern Power Grid Corporation connected the first cross-border line, officially opening the electricity interconnection between China and ASEAN countries. As of the end of August this year, the Southern Power Grid has been connected to the grid of ASEAN countries, and has achieved a cumulative cross-border two-way power trade of nearly 70 billion KWH, of which more than nine percent has become clean energy. According to reports, in the past 20 years, China Southern Power Grid has invested in more than 30 energy projects in ASEAN countries such as the Philippines, Vietnam, Laos, Myanmar and Cambodia. At the same time, the connotation of energy cooperation between China Southern Power Grid Corporation and ASEAN countries has been continuously enriched. Through technical exchanges and other means, China Southern Power Grid has trained more than 700 middle and high-level power technology and management personnel from ASEAN countries, and funded nearly 200 students from ASEAN countries. Editor/Xu Shengpeng

China (West) Hydrogen energy Conference 48 enterprises concentrated signing

From September 14 to 15, the China (West) Hydrogen Energy Conference was held in Yulin, Shaanxi province. At the opening ceremony of the conference, Yulin City government and Xi 'an Jiaotong University signed a strategic cooperation agreement, and then held a centralized signing ceremony, and 48 projects in the hydrogen energy industry chain signed important cooperation results on site, with a total investment of 33.28 billion yuan. Among them, as one of the earliest investment institutions in the new energy field, XICO Holding and a number of hydrogen-related investment enterprises debuted this signing. As an important part of the conference, the signing ceremony of the conference has attracted the attention of the industry inside and outside, it is reported that the conference signed a total of 48 projects, Introduced by Shaanxi provincial and municipal governments and provincial enterprises, including Xi 'an Jiaotong University, Technical Institute of Physics and Chemistry, Chinese Academy of Sciences, The Sixth Research Institute of China Aerospace Science and Technology Corporation, China Communications Group, Guodian Investment Group (Shaanxi Company), Vision Group, petrochina (Shaanxi Company), Sike Holdings, Zhongke Fuhai, Lean Chemical, Hedrisen and other universities and institutions, industrial groups, industrial funds, hydrogen innovation enterprises and well-known consulting and planning companies in the field of hydrogen energy. The scope of cooperation includes hydrogen core technology research, hydrogen equipment manufacturing, hydrogen energy application demonstration, etc., covering the whole chain of hydrogen energy industrialization development such as hydrogen production, hydrogen storage, hydrogenation, hydrogen transport, and hydrogen use, and promoting the development of China's hydrogen energy industry with western power. Editor/Xu Shengpeng

G20 Summit: Pledge to triple global renewable energy generation by 2030

According to foreign media reports, the Group of 20 (G20), which accounts for 85% of global GDP and 80% of carbon emissions, announced at the G20 summit that it plans to accelerate the reduction of coal-fired power generation, taking into account the unique circumstances of each country. However, there is no commitment to completely phase out polluting fossil fuels, including oil and gas. Recognizing the urgency of the global climate, the G20 stressed the need to rapidly and significantly reduce global greenhouse gas emissions, by 43 percent by 2030 from 2019 levels, to limit global warming to 1.5 degrees Celsius. However, they expressed concern that current efforts are still insufficient to meet the goals of the Paris Agreement. To support developing countries' climate plans, the G20 called for $5.9 trillion in funding by 2030. In addition, they estimate that global investment in developing clean energy will need to be about $4 trillion per year by 2030 to achieve net-zero emissions by 2050. Leaders urged a dramatic increase in climate finance from billions of dollars to trillions of dollars. Editor/Xu Shengpeng

The world's first hydrogen energy smart track is officially running in Malaysia

On the afternoon of September 6, local time in Malaysia, the world's first hydrogen energy smart tram independently developed and manufactured by CRRC Zhuzhou officially debuted in Malaysia, and opened a trial run in Kuching City, Sarawak, becoming the most beautiful scenery on the streets of Kuching on the day. It is reported that the train departed Zhuzhou, Hunan province, on July 14, and completed assembly and commissioning at a Malaysian port on August 21. The first phase will run along the Jalan Keruing Loop in Kuching City. In early November, it is planned to go to Samarahan to test different road conditions. The total test time will be three months. During this period, the local government will collect data to the maximum extent possible, assess the feasibility of the road and identify other potential problems to ensure that the Smart Rail will better serve the people of Kuching when it comes into operation and bring convenience to the local public transport. Editor/Xu Shengpeng

Powerchina signed the first spot power transmission and transformation project

Under the brand of Sinohydro, PowerChina Argentina Representative Office and the Management Committee of the Argentine Federal Electric Transportation Trust Fund (CAF) officially signed the contract for the Augustin-Campo Quijano 132KV transmission line and substation project in Salta Province, Argentina. The project is the first spot power transmission project of the Argentine Federal Transmission Plan. Gustavo Saenz, Governor of Salta Province of Argentina, Flavia Royong, Secretary of the State of Energy, Santiago Ianotti, Deputy Secretary of Power Energy, and Tu Level, national representative of China Power Construction Argentina, attended the signing ceremony. The project is located in the province of Salta in northern Argentina, and the construction content is to build two 24km single circuit and a 10km double circuit 132 kV line and supporting substation in Salta province, and upgrade and maintain the existing line. As part of the national High voltage transmission and transformation upgrade Plan and the first project of the Federal Electric Transportation Plan, the project assumes important responsibility for improving Argentina's electric transportation, which will help meet Argentina's growing energy demand and promote the sustainable development of the local economy. Editor/Xu Shengpeng

About 1.3 trillion yuan of local government bonds were issued in August

In order to better exert the effect of investment to stabilize growth, the central government required local governments to accelerate the issuance of bonds, and the issuance of local government bonds reached the peak of the year in August. According to public bond issuance data, the scale of local government bond issuance across the country in August 2023 was about 1.3 trillion yuan, a new high for the year, which was mainly due to the significant acceleration of new special bond issuance. In the first eight months of 2023, the scale of local government bonds issued nationwide was about 6.3 trillion yuan, a slight increase (3%) over the same period last year, and a record high for the same period. Editor/Xu Shengpeng

The 2023 China International Intelligent Industry Expo signed 84 major projects

On the afternoon of September 4, 2023 China International Intelligent Industry Expo major investment projects concentrated signing activities were held in Chongqing Yuelai International Convention and Exhibition Center, Chongqing signed 84 major projects, the formal contract amount of 213.86 billion yuan, signed 5 billion yuan - 10 billion yuan projects 11, 10 billion yuan more than 5 projects. Among them, in 2023, focusing on the annual theme of intelligent net-connected new energy vehicles, 19 projects in the field of intelligent net-connected new energy vehicles were signed, with a formal contract amount of 68.8 billion yuan, accounting for 32.2% of the total contract amount. The smart Expo will strengthen the market orientation and provide services for the chain extension and chain expansion of the main chain enterprises in the city. A total of 13 B2B projects have been signed with a formal contract amount of 31.12 billion yuan, covering the fields of intelligent networked new energy vehicles, biomedicine, software information services, new energy and new energy storage. Editor/Xu Shengpeng

Xinjiang has actively developed photovoltaic industrial parks

To build a new development pattern, promote high-quality development and promote Chinese-style modernization, Xinjiang faces new opportunities and needs to make new achievements. Based on the resource endowment, geographical advantage and industrial foundation, we should vigorously promote scientific and technological innovation, foster and expand industries with distinctive advantages, actively develop emerging industries, accelerate the construction of a modern industrial system that reflects Xinjiang's characteristics and advantages, push Xinjiang onto the track of high-quality development, and work with the rest of the country to comprehensively build a modern socialist country. To achieve social stability and high-quality development in Xinjiang, the most arduous task is in rural areas. We need to do a good job of providing support to the other side, strengthen industrial cooperation and personnel exchanges between Xinjiang and the mainland, encourage and guide people from Xinjiang to work in the mainland, and encourage and support people from the mainland to start businesses and live in Xinjiang. It is necessary to give full play to Xinjiang's unique geographical advantages, actively serve and integrate into the new development pattern, do a good job in opening up from the actual situation, speed up the construction of the core area of the Belt and Road, and make Xinjiang a bridgehead for China's westward opening up. Editor/Xu Shengpeng

Gulf states are eyeing green hydrogen

After decades of oil and gas booms, Gulf states are now targeting "green" hydrogen as they try to transform their economies into non-oil revenue sources and ease the climate crisis. Oil producers Saudi Arabia, the United Arab Emirates and Oman are investing heavily in the climate-friendly fuel as they seek alternative sources of revenue from crude oil and natural gas. Green hydrogen, hydrogen produced by electrolysis of water from renewable energy, seems to solve many problems: it is low in pollution and has a wide range of potential uses, which could make it both profitable and protective of the planet at the same time. But the fuel, which currently accounts for less than 1 percent of total global hydrogen production, is not yet commercially viable, requiring a massive expansion of renewable energy use - a process that could take years. Nevertheless, the Gulf states still have the opportunity to play a major role in the energy market due to the decline in oil revenues. Most hydrogen today is produced from polluting fossil fuels, but green hydrogen is extracted from water using renewable energy sources such as wind, solar and hydropower. While fossil fuels produce harmful greenhouse gases when burned, hydrogen only releases water vapor. It has been touted as a potential use in highly polluting industries such as transport, shipping and steel. Editor/Xu Shengpeng