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Marketization: Power Trading Finishes for the Beijing-Tianjin-Tangshan Regional Power Exchange
The recently opened Beijing-Tianjin-Tangshan Exchange completed its trading for 2016 after it reached its target trade volume of 6.1 TWh. Many independent observers expressed disappointment with the performance of the exchange, mainly that each region traded largely within their administrative boundaries, rather than cross-regionally. Approximately 60% and 77% of power purchased in Tianjin and Tangshan, amounting to 900 GWh and 1.7 TWh, respectively, was generated from within their administrative areas. (BJX CN)
This stated dissatisfaction with the interregional direct trading platform presents an obstacle to further Jing-Jin-Ji power integration. The trading center was only stipulated to run in 2016 and no further plans have been published for the continuation of the exchange in the future.
Statistic: Newly Installed PV Capacity for the First Three Quarters of 2016 Reaches 26 GW
The China Renewable Energy Society recently announced that new PV installations in China reached 26 GW in the first three quarters of 2016. According to the announcement by Vice President Meng Xian'gan, China is on track to install a total of 30 GW of solar energy for 2016, even though the annual target is only 18.1 GW. (BJX CN)
The new installment figures this year are especially high due to the rush of PV companies to build before the June 30th tariff cut. However, a glut of PV projects could cause pipeline delays and loss of subsidies, as well as exacerbate a germinating solar curtailment issue. National curtailment rate for 2015 was 13%, however, some provinces such as Gansu and Xinjiang have been experiencing curtailment rates of 32% and 33%.
Joint Venture: Belgian DEME and China's COSCO Shipping Form Joint Venture for Offshore Wind in China
Recently a joint venture was announced by Belgian dredging company DEME and COSCO's subsidiary GeoSea, to develop offshore wind projects in China. This joint venture aims to help China reach its stated goal of 10 GW of offshore wind by 2020, which is at risk of being missed due to the technical complexities of offshore wind compared to onshore. (Maritime Executive)
This joint-venture represents the increasing importance of developing offshore wind in China. While offshore wind occupies only a small percentage of China's total wind generation capacity, the proximity of offshore wind farm locations to coastal load centers combined with high curtailment for onshore projects mean that offshore wind generation is likely to play a bigger role in China's future renewable energy mix.
(Tall Tall Wind Turbine, Source: Maritime Executive)