The Azure Research team has studied and analyzed the latest results on China’s solar grid parity projects of 2020.

Largely affected by the COVID-19 pandemic, CNOOC saw a 30% YoY decrease in sales of oil and gas in the first half of 2020, putting its half-year revenue at a relatively low CNY 66 billion.

In March 2020, the first "marine ranching (aquaculture) + offshore wind" hybrid demonstration project in China, which is made up of the Changyu City Marine Ranch and Three Gorges 300MW offshore wind farm (LZW3), has undergone marine survey and inspection.

The Office of the “Leading Group for Promoting the Comprehensive Deepening of Hainan’s Reform and Opening-up” has recently issued the "Hainan Energy Comprehensive Reform Plan" (hereinafter referred to as the "Plan").

Meiqi Power and Shanghai Green Energy recently signed a project cooperation framework agreement to jointly develop and build the Shanghai Fengxian offshore wind energy storage project – setting a new domestic benchmark for large-megawatt “wind power + energy storage” projects.

It has recently been leaked – during a bond issuance promotion meeting – that the Ministry of Finance (MoF) and other relevant authorities have agreed to issue bonds via the country’s two major power grid companies – State Grid and China Southern Grid – in an attempt to resolve the chronic renewable energy subsidy payment delays.