Construction of a $1 billion Chinese-invested hydropower station has begun in Cambodia to facilitate the Southeast Asian country’s use of renewable energy, reports the South China Morning Post. This comes as the fallout from the Iran war constricts developing countries’ access to traditional fuel supplies. Work on the Upper Tatay pumped-storage hydropower project in the hilly […]
Category: Energy & Environment
Shares of Sigenergy Technology, a Chinese residential energy storage manufacturer, surged more than 100% during its Hong Kong trading debut on Thursday, reports Caixin. This pushes the startup’s valuation to HK$162.8 billion ($20.8 billion). The Shanghai-based company raised HK$4.4 billion by offering 13.6 million shares in its initial public offering (IPO), with the stock closing at […]
China set a cautious new climate target for the rest of the decade, reports Bloomberg, which says the goal frustrates hopes for tighter policy that would accelerate the nation’s work to curb emissions. A new goal pledges to cut carbon emissions per unit of GDP by 17% by 2030 and compares to a previous objective to […]
Li Shufu, chairman of vehicle manufacturer Geely, has proposed that China promote methanol-powered trucks for medium- and long-distance freight, reports Caixin. He argues they offer a practical way to decarbonize a sector where electric and hydrogen options have struggled to gain traction. Li, a member of the Chinese People’s Political Consultative Conference (CPPCC), submitted the […]
Zhejiang Petrochemical Corp, a major Chinese refiner backed by Saudi Aramco, is shutting a 200,000-barrel-per-day unit, reports Reuters. The refinery is bringing forward maintenance in response to the Middle East conflict’s impact on crude supply, it said on Tuesday. Separately, another Chinese refiner backed by Aramco, Fujian Refining and Petrochemical, or FREP, shut its 80,000 bpd […]