Breaking News! New incremental offshore wind power projects will be excluded from the central REDF subsidy

Breaking News! New incremental offshore wind power projects will be excluded from the central REDF subsidy

Just a couple of days before the national Chinese New Year celebrations, the Ministry of Finance (MOF), NDRC and NEA have jointly released an announcement on non-hydro renewable power development, reaffirming that all current and new subsidized projects under the Renewable Energy Development Fund should fit within the current REDF budget (meaning that there would be no immediate increase in renewable energy surcharges collected from end users which constitute the pool of funding for the REDF, nor any injection of capital in the REDF budget).

Huaneng renewable energy development quadruples in 2019

Huaneng renewable energy development quadruples in 2019

On January 11, China Huaneng Group held its Second-Term Staff Representative Conference and 2020 Working Meeting, where Chairman and Party Secretary Shu Yinbiao announced the group’s record-high 2019 renewables new installed capacity of 5.02GW, which is four times its 2018 level.

Power generation in 2019 increases 3.5% YoY

Power generation in 2019 increases 3.5% YoY

According to latest news released by the National Bureau of Statistics on January 17, the total electricity power generation in 2019 was 714.2TWh, an increase of 3.5% from 2018.

Henan GOV releases 2019 Energy Development Report

Henan GOV releases 2019 Energy Development Report

According to the 2019 Energy Development Report, Henan has shut down 1,680MW of thermal plants and added 3,000MW of renewable energy installed capacity in the single year.

SPIC and COSCO Shipping sign strategic cooperation agreement

SPIC and COSCO Shipping sign strategic cooperation agreement

In the strategic cooperation agreement signed by SPIC and COSCO Shipping, the two sides agreed to carry out wide ranging and comprehensive cooperation in the areas of markets and resources, shipping logistics, infrastructure construction and investment, equipment manufacturing, technological innovation and applications, and industrial financial investment. (SPIC)