Welcome to Azure International

Azure International is a leading investment and advisory company focused on China's cleantech energy sector. Founded in 2003, we have a team of 20+ local and international professionals based in China with backgrounds in engineering, marketing, manufacturing, consulting, policy, government relations and finance. In addition to deep advisory capabilities in renewable energy, energy efficiency, carbon management, and energy finance, we have proven capability to invest in and accelerate the development of clean energy companies.  Our portfolio and partner companies have achieved both significant commercial success and returns to investors. Azure provides the necessary expertise and execution capabilities in China to lead relationship development with government and strategic partners, project execution, sourcing, sales and technology development – all with deep understanding of Chinese and international requirements.

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News Summary:

  • Zhejiang province to limit coal production and energy consumption
  • NEA publishes national coal power ultra-low emission and energy saving targets
  • Wind production accounts for more than 5% of national total in 1H2018
  • Fujian and Shandong cancel subsidies for distributed PV projects
  • China's first flexible high-voltage direct current (VSC HVDC) offshore wind farm
  • NDRC requires power trading companies to carry out shareholding reforms

 

 

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:

 AzureChinaCleantechNews01Sep2018 01

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:

 AzureChinaCleantechNews01Sep2018 02

 

 

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

AzureChinaCleantechNews01Sep2018 03

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 

AzureChinaCleantechNews01Sep2018 04

 

 

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


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