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Zhejiang province to limit coal production and energy consumption
According to this notice, Zhejiang will control the proportion of coal production, limit the development of high energy-consuming industries and promote development of new energy such as wind, PV and biomass. ( ZJDRC)
Azure has summarized some of the key data in the graph below:
Despite the notice announcing more support for new energy, we are in fact surprised by how small the numbers are for new wind installations. The projections are reasonable in light of historical installations, with average annual installations of 160MW over the past 7 years, but they are not in line with the target of reaching 4GW by 2020 according to the province's 13th 5 year plan, starting from 1.3GW in 1H2018. We therefore assume that wind targets listed above are not including distributed wind projects nor offshore wind. Zhejiang currently has 252MW of offshore wind under construction and more than 1.2GW already approved.
NEA publishes national coal power ultra-low emission and energy saving targets
2018 National coal power ultra-low emission target: 48,680MW.
Energy saving transformation target: 53,905MW. (NEA)
Energy saving target map below:
Wind production accounts for more than 5% of national total in 1H2018
A total of 82.9TWh of wind power was produced in China during 1H2018 ,accounting for 5.4% of total on-grid power. Wind power trading reached 19.8TWh inluding 9TWh of cross-provincial trading. (CEC)
1H2018 Wind power market trading diagram
Large power generation groups have participated in wind power transactions in 16 provinces, with the three provinces of Yunnan, Xinjiang and Gansu accounting for more than half. The average transaction price in these provinces (including production as well as cross-provincial and / or cross-regional transmission price s) ranged between 0.37 and 0.44 CNY / kWh.
Fujian and Shandong cancel subsidies for distributed PV projects
Following the “531” < 国家发展改革委财政部国家能源局关于2018年光伏发电有关事项的通知> ( NDRC)policy realised earlier this year, Shandong & Fujian provinces are officially cancelling subsidies for newly connected PV project. The final subsidy amount or power tariff depends on the timing of both registration and connection of the project (BJX)
Fujian distributed PV subsidy breakdown
China's first flexible high-voltage direct current (VSC HVDC) offshore wind farm
ChinaHuadong Design Institute is planning to open a groundbreaking 1.1 GW offshore wind farm 90 kilometres from the coast of Jiangsu Province in eastern China. DNV GL announced that it will provide technical support for the feasibility study of China's first flexible high-voltage direct current (VSC HVDC) offshore wind farm converter station. ( BJX)
Compared with traditional submarine high voltage AC power transmission (HVAC), VSC HVDC can minimize power losses and is suitable for long distance and large capacity project.
NDRC requires power trading companies to carry out shareholding reforms
According to NDRC document #9 <中共中央国务院关于进一步深化电力体制改革的若干意见> and as part of the power market reform, many new power trading companies have been setup over the past two years. The result however is that most power trading companies are still wholly-owned subsidiaries of the grid company. In this new policy, NDRC now requires that preferably 50% and at least 20% of power trading companies stock be owned by enterprises independent of state grid. ( NDRC)