Octopus Energy Group has announced a joint venture (JV) with PCG Power to trade renewable electricity in China. The JV will operate under the name Bitong Energy and will focus on trading green electricity in China’s spot power markets, where electricity is bought and sold in real time. The JV will begin operations in Guangdong province and will expand to other regions as additional markets open.
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HydrogenPro ASA has agreed to acquire the remaining 25 per cent stake in HydrogenPro Tianjin from Tianjin Miaoqing Machinery Equipment Co., bringing its ownership from 75 per cent to full ownership. The transaction is valued at CNY 3 million in cash plus the equipment valued at about CNY 1.8 million. Completion of the transaction remains subject to the relevant approvals from Chinese authorities.
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ACWA Power has signed a series of agreements worth $10 billion at the ninth edition of the Future Investment Initiative in Riyadh. The agreements cover financing partnerships, renewable energy, storage, and technology development across the Gulf Cooperation Council, China, Central Asia, and Africa. These projects will provide electricity to the Saudi Power Procurement Company under long-term power purchase agreements.
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The report published by the World Bank highlights the pathways to intertwine energy and development imperatives in East Asia. It outlines pathways to decarbonize the power and industrial sectors—which together contribute 75–87 percent of emissions—through greater efficiency, electrification, renewable energy, and advanced technologies such as green hydrogen and carbon capture, utilization, and storage.
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European and global wind energy supply chains are increasingly characterised by strategic dependencies and emerging bottlenecks. China is an increasingly important actor in terms of global wind turbine manufacturing, and the EU faces critical choices regarding how to manage its growing reliance on Chinese imports while protecting the viability of its domestic manufacturing base. These decisions carry significant implications for the stability, competitiveness, and long-term resilience of the European wind energy sector.
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As the U.S. and China continue trade negotiations in Stockholm, one thing is clear: rare earth elements (REEs) are a powerful bargaining chip and a critical part of the future of American energy and our economy. The U.S. remains heavily dependent on China for access to these materials, many of which play important roles in the systems that support clean energy, like battery storage, inverters, and grid technologies. As of 2024, the U.S. depends on imports to satisfy 80 percent of domestic demand for REEs.
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Mainland China and India continue to rely heavily on coal, with coal projected to make up 57% of their power generation in 2025, despite global shifts towards renewable energy. While coal contracts, renewables continue to expand. Mainland China produces approximately 80% of the world’s solar panels, with Tongwei Solar holding a 15% market share, underscoring China’s pivotal role in the global solar industry. Mainland China’s approach to carbon commitments and energy supply security will significantly impact global energy policies and climate goals.
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China Energy Engineering Corporation (CEEC) has launched an auction for 25 GWh of lithium-iron phosphate battery systems. The tender launched by CEEC is structured into three packages totalling 25 GWh. It covers systems with durations of one, two, and four hours. Package one consists of one-hour systems with a capacity of 3 GW/3 GWh. The bids for one-hour systems ranged from CNY 0.673 to CNY 0.89/Wh, with an average bid of CNY 0.7863/Wh.
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Sineng Electric will be supplying 854.72 MW of high-efficiency string inverters to a 1.6 GW solar project situated in Inner Mongolia, China. The project is spread over an area of approximately 7,347 acres and has a total investment of 6.973 billion RMB. Furthermore, for the project Sineng Electric has provided 2,671 units of its high-power SP-350K-H1 string inverters. The inverters are equipped with Anti-PID and PID recovery functions.
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JA Solar has completed the delivery of high-performance n-type PV modules to the 1 GW PV project at the Ulan Buh Desert Northeast New Energy Base initiative in China. This energy base is envisioned as a significant hub for wind and solar power, with a planned capacity of 12 GW. The project began the first shipment from JA Solar in early 2024 and was completed within just 180 days
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CHN Energy’s Guohua Energy Investment Co., Ltd. which operates the Rudong Integrated Photovoltaic (PV)-hydrogen-storage project has connected it to the grid. This project is located on the coastal tidal flats of the Yudong Reclamation Area in Rudong County. The project combines PV power generation, hydrogen production and refueling, and energy storage.
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The global clean technology landscape is undergoing a major shift with China at its centre. China now dominates 60% of global zero-carbon technology manufacturing, leading in solar, battery, wind, and heat pump sectors. While this has lowered costs and accelerated the energy transition, it exposes economic and geopolitical challenges, particularly for the US and EU. Geopolitical dynamics across China and the US will need to be monitored into 2025 to ensure balance is struck for the supply of clean technology. In addition, the recent US election also has the potential to drastically shift trade dynamics into 2025
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The paper “Clean Power for Industry in China: Policy Enablers for the Industrial Sector” by the World Economic Forum concludes that in the next decade, China is set to expedite industrial decarbonization, with the intention of shifting from controlling energy consumption and intensity to controlling carbon emissions and carbon intensity. In this process, the government could play a much more proactive role in identifying practical applications and boosting businesses’ confidence to participate.
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Like conventional climate finance contributors, China’s climate finance flows through a complex and interwoven architecture. Governmental agencies responsible for financial decisions related to climate include environmental, economic and aid ministries as well as financial regulators; they may also rely on implementors, in and outside of China, to identify opportunities and channel the funding. Developing countries must navigate this complex web to access the climate finance China can provide. This makes it hard for participants and observers to know exactly what’s going on.
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The prospects for China’s export-oriented clean energy technology industries hinge to a large degree on policies in China as well as the rest of the world to encourage both the deployment of those technologies and the development of domestic manufacturing capabilities. In general, those countries that are heavily dependent on imports are already taking action to reduce reliance on China and other foreign suppliers by stimulating domestic investment with the aim of enhancing energy security and stimulating economic activity.
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China is also expanding its electrolyzer manufacturing capacity, which will be a key component of renewable hydrogen production. This confluence of factors positions China well to transform its ammonia sector significantly in the coming years toward renewable-based production. This analyzes the current state and future of China’s renewable ammonia production. It finds that around 9 million tons per year (Mt/yr) of renewable ammonia production is currently at various stages of development. This evolution is driven by two types of (mostly) state-owned companies – electricity generators/distributors and fossil fuel/chemical conglomerates – though as of now a small group of companies is leading the way.
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China’s central planning agency – National Development and Reform Commission (NDRC), National Energy Administration, and National Data Administration have jointly released the “Action Plan for Accelerating the Construction of a New Power System (2024-27)” to achieve the country’s dual carbon goals of peaking carbon emissions by 2030 and reaching carbon neutrality by 2060.
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Government policy has played a central role in China’s stunning success in expanding its clean energy industries. China’s largest clean energy sectors – namely wind, solar PV, batteries, and new energy vehicles – straddle the line between being state-owned and the market economy. China’s central government began targeting manufacturing in each of these clean energy fields for various forms of support, initially starting with pilot projects or narrow efforts to popularize technologies in small niches, such as rural electrification for solar PV, or buses as EVs. China’s success in the fields of batteries and electric vehicles is more recent than that of wind and solar, and shows both similarities and differences. The role of public policy has been prominent in all cases.
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There were no new permits for coal-based steelmaking projects in the first half of 2024 for the first time since China announced its ‘dual carbon goals’ in September 2020. China could cut 200 million tonnes of CO2 from the steel industry by 2025, which would be a 10% reduction compared to the highest emission levels up to now recorded in 2020 due to measures to cut steel output and increase scrap-based secondary steel from electric arc furnaces. China’s forecasted CO2 reductions of 200 million tonnes by 2025 are equivalent to the annual emissions from the EU’s steel sector.
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China Three Gorges Renewables, a Chinese state-owned power company, is planning to develop a massive 18 GW energy project in Ordos, Inner Mongolia. This $11 billion project will comprise 8 GW solar PV project, 4 GW of wind, 4 GW of coal-fired power and 5 GWh of battery energy storage. 200 MW of solar thermal capacity is also planned as part of this project. Construction on the project is expected to begin in September 2024 and the project is planned to be ready for commissioning by 2027.
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