September 30, 2010
Chongqing New Energy Firm to List on NYSE
A polysilicon manufacturer out of Chongqing, Daqo New Energy Corp., looks to rai$e $108 million (US dollars) with a listing on NYSE under stock symbol DQ. Daqo makes the key ingredient for solar photovoltaic panels and Daqo lists Yingli Green Energy of Beijing as a major customer. The company began direct manufacturing of solar panels in May when it opened a factory in Nanjing, Jiangsu Province. Daqo New Energy is one of 23 subsidiaries of the Daqo Group, a big electronics conglomerate founded in 1965 in Jiangsu....
Labels: alternative energy, chinese stocks, clean tech, green energy
April 09, 2010
China Could Become Oil Exporter Again
Long before the Panic of '08 Chinese oil majors planned major expansion of China's oil refining capacity. There are at least 10 major oil refineries or new capacity underway throughout China. According to 2009 data there are around 177 oil refineries of which 78 major refineries are owned by the Chinese oil majors and foreign joint ventures. By contrast the USA has around 150 oil refineries and no new construction for almost 30 years! The new refineries may add 3.7 million barrels per day of capacity by 2013.
In January China National Offshore Oil Corp. (NYSE:CEO) obtained license to export refined oil products. Just a year ago the company opened a new refinery at Huizhou, Guangdong, that is being upgraded to refine up to 22 million tons of oil per year.
If Beijing's big push for alternative energy is successful will all the new refined oil production be needed in China? Or could it end up exported onto Asian or international markets?
In January China National Offshore Oil Corp. (NYSE:CEO) obtained license to export refined oil products. Just a year ago the company opened a new refinery at Huizhou, Guangdong, that is being upgraded to refine up to 22 million tons of oil per year.
If Beijing's big push for alternative energy is successful will all the new refined oil production be needed in China? Or could it end up exported onto Asian or international markets?
Labels: alternative energy, exports, oil, peak oil
Beijing Ramps Up Heavy Industry Restructuring
The head of the policy department of the Ministry of Industry & Information Technology - one of Beijing's five "super" ministries - says a plan is underway to consolidate the power, coal, iron and steel, cement, nonferrous metal, coke, paper, leather and printing material industries. Specifically targeted is the iron and steel industry with the call to shut down furnaces less than 30 tons capacity. The plan also calls to eliminate outdated plants in the textile industry by the end of next year. The ministry warns it will take joint efforts of all government departments to achieve the aims.
The consolidation of China's massive but scattered and often inefficient heavy industrial plant is a long standing goal. It will be accomplished through corporatization of government-owned businesses and mergers and acquisitions leading to a handful of powerful industrial leaders. This is part of Beijing's overarching desire to see American style "big 3" players in all industrial sectors.
Economic restructuring is one of 5 key areas Beijing is channeling central government resources into in a bid to jump start a "third wave" in the Chinese economy. The other areas are agriculture, alternative energy, social services particularly education and health care, and "independent innovation"....
The consolidation of China's massive but scattered and often inefficient heavy industrial plant is a long standing goal. It will be accomplished through corporatization of government-owned businesses and mergers and acquisitions leading to a handful of powerful industrial leaders. This is part of Beijing's overarching desire to see American style "big 3" players in all industrial sectors.
Economic restructuring is one of 5 key areas Beijing is channeling central government resources into in a bid to jump start a "third wave" in the Chinese economy. The other areas are agriculture, alternative energy, social services particularly education and health care, and "independent innovation"....
Labels: alternative energy, clean tech, high-tech, investment, reform, steel
April 06, 2010
Boao Forum 2010 Signals Alternative Energy Push
The Boao Forum for Asia begins this week and lasts through the weekend at a luxury hotel on the coast of tropical Hainan Island. The annual gathering of business and political elites is often called the "Chinese Davos" which is odd since there is already a Chinese meeting of the World Economic Forum called the Annual Meeting of the New Champions held the past 3 years in Dalian or Tianjin.
This year's Boao focuses on "Green Recovery" with confabs on sustainability, low carbon objectives, all clues to where investment focus is going. Former US Treasury Secretary Hank Paulson will be on a capital markets panel. There will be discussions on protectionism, consumption in Asia, hot real estate prices with SOHO Chairman Pan Shiyi, China-India Cooperation, the China-Taiwan Economic Cooperation Framework Agreement, and "unleashing the power of the private sector."
Chinese Vice President Xi Jinping will deliver a keynote address and be joined by current politicos Robert Hormats, US Under Secretary of State, Singapore Senior Minister Goh Chok Tong, the Prime Minister of Denmark, Taiwan government officials, and many others.
Business leaders include executives from many American firms including PepsiCo, Harbinger Capital, Goldman Sachs, Bristol-Myers Squibb, Bank of America and Merrill Lynch, Morgan Stanley (of course), the Chicago Board Options Exchange, Nielsen, Prudential, and so on. The activities of the Boao Forum challenges the line of mainstream media that China is "closing for business...."
Labels: alternative energy, foreign investment, foreign relations, morgan stanley, reunification, taiwan
April 05, 2010
Chinese Offshore Wind Farm Shows Benefits of Cooperation & Trade
A 102 Megawatt offshore wind farm will begin operating by the end of April in the delta lands off Shanghai. Chinese wind turbine developer Sinovel installed 34 wind turbines in the muddy waters, the first installation in a plan to get over 500 Megawatts of wind power generation off the Chinese east coast. Each Sinovel SL3000 turbine contains core electrical components created and supplied by American Superconductor (NASDAQ:AMSC).
AMSC initially struck a deal to supply electrical components to China via its Chinese subsidiary WindTec. But in January 2010 Beijing's National Development and Reform Commission lifted the 70% domestic components requirement for wind energy development. This move will allow foreign companies much greater access to the fast growing clean energy sector in China.
This June Shanghai will host Offshore Wind China 2010 organized by Chinese Renewable Energy Industries Association, the Global Wind Energy Council and others....
Labels: alternative energy, clean tech, foreign trade, free trade, tech stocks, technology
March 26, 2010
Maryland Biofuels Gets Chinese Investment
Milestone Biofuels will be the name of a new venture between New Generation Biofuels (NASDAQ:NGBF) of Columbia, Maryland, and Chinese partner Regent Trend Investment (formerly Great Full Group Holdings) who will supply $20 million (US dollars) for the joint venture to produce 250 million gallons of biofuels a year in the USA....
Labels: alternative energy, clean tech, foreign investment, foreign relations
March 11, 2010
China Offshores Wind Turbine Jobs to Nevada
Anti-China blowhard Senator (D-NY) Chuck Schumer's gambit may have paid off for Nevada. Schumer was close to derailing a giant wind farm in Texas planned by US Renewable Energy Group (US REG) and A-Power Energy Generation of China by thwarting currently available federal subsidies (tax credits) because the wind turbines would be manufactured at A-Power's plant in Shenyang, Liaoning Province. Today US Reg announced the joint venture will build a manufacturing plant in Nevada potentially employing 1,000 Americans to build and assemble the wind turbines. The location and details of the plant are not revealed at this time. A-Power shares (NASDAQ:APWR) are up over 8% today. US-REG is a private equity venture.
Schumer's opposition to the original deal was purely political grandstanding in an election year. Fact is American multinational GE will supply the massive gearboxes to A-Power and eventually build a manufacturing center to supply not only A-Power but China and all of Asia. A-Power's wind turbines are built under license from Fhurlander AG of Germany, a leader in wind energy technology. The Texas wind farm demonstrates the benefits and complexity of globalization. You can read my post on the original deal here....
Schumer's opposition to the original deal was purely political grandstanding in an election year. Fact is American multinational GE will supply the massive gearboxes to A-Power and eventually build a manufacturing center to supply not only A-Power but China and all of Asia. A-Power's wind turbines are built under license from Fhurlander AG of Germany, a leader in wind energy technology. The Texas wind farm demonstrates the benefits and complexity of globalization. You can read my post on the original deal here....
Labels: alternative energy, foreign investment
December 28, 2009
Big Plans for Chinese Grid
An amendment to China's renewable energy law puts the regulations under direct central government control. The amendment also strengthens the requirement of power companies to connect renewable energy producers to electricity grids.
As the first decade of the 21st Century comes to a close China now has the world's largest electricity transmission network at 375,000 kil0meters or over 233,000 miles of transmission lines. And there are big developments ahead. Throughout the nation China's utilities plan to install 150 billion smart meters to allow greater flexibility in rate pricing.
State Grid, the 15th biggest company in the world according to Fortune magazine, sold 20 billion Yuan (just under $3 billion US dollars) worth of 7 and 10 year corporate bonds on Christmas Eve. The money raised will be used in part to build an ultra-high voltage transmission line from Fulong, Sichuan, near the Xiangjiaba hydroelectric dam to a high voltage AC station at Nanhui, Shanghai. And State Grid may partner with Duke Energy to build transmission lines in the USA....
As the first decade of the 21st Century comes to a close China now has the world's largest electricity transmission network at 375,000 kil0meters or over 233,000 miles of transmission lines. And there are big developments ahead. Throughout the nation China's utilities plan to install 150 billion smart meters to allow greater flexibility in rate pricing.
State Grid, the 15th biggest company in the world according to Fortune magazine, sold 20 billion Yuan (just under $3 billion US dollars) worth of 7 and 10 year corporate bonds on Christmas Eve. The money raised will be used in part to build an ultra-high voltage transmission line from Fulong, Sichuan, near the Xiangjiaba hydroelectric dam to a high voltage AC station at Nanhui, Shanghai. And State Grid may partner with Duke Energy to build transmission lines in the USA....
Labels: alternative energy, clean tech, electricity, foreign investment, green energy
November 23, 2009
Ahead of Copenhagen China Led Group of 77 Seeks Compulsory Licensing
Chinese alternative energy plans and programs could reap huge potential profits if a proposal put forth by China and India is successful. In advance of the Copenhagen Climate conference next month, the so-called Group of 77 - a loose alignment of developing nations currently led by China - is proposing that new clean tech technologies be available under "compulsory licensing". Under that arrangment new technologies in alternative energy would be patent free and nations such as China could begin domestic production of foreign designed products at will. The proposal has little chance but it illustrates the political standoff brewing over "global warming" and climate change....
Labels: alternative energy, foreign relations, politics
November 16, 2009
China Offshores Solar Jobs to USA
Chinese solar major Suntech Power Holdings (NYSE:STP) announced today it finally chose a location for its American manufacturing plant - Phoenix, Arizona. The precise location has yet to be determined but it will be somewhere in the greater Phoenix metro area. The state of Oregon was pursuing the plant but Arizona won out with a variety of renewable energy policies and business incentives. Initially the plant will be up to 100,000 square feet and potentially provide work for 250 employees. Suntech plans to have production as soon as third quarter 2010....
Labels: alternative energy, chinese stocks, foreign relations
November 06, 2009
China SWF to Invest over $1.5 Billion in US Power Company
The AES Corporation (NYSE:AES), a global power generation and distribution conglomerate based in metro Washington, DC (Arlington, VA), announced today that China Investment Corp. - Beijing's soverign wealth fund - will invest $1.58 billion (US dollars) for a 15% stake in the corporation. CIC will spend an additional $571 million to own 35% of AES's wind power business. AES operates 8 generation plants in China currently with nearly 3 MW combined capacity and has up to 49% stake in a Chinese wind farm. CIC's move could be viewed as a way to bring back to China greater control over AES assets in the country....
Labels: alternative energy, foreign investment, swf
October 29, 2009
China-USA JV to Build 600 MW Texas Wind Farm
Shenyang Power Group in Shenyang, capital of industrial powerhouse Liaoning Province, will own 49% of a joint venture (JV) between its listed subsidiary A-Power Energy Generation Systems (NASDAQ: APWR) and private equity firm US Renewable Energy Group and privately held Cielo Wind Power. The JV will construct a 600 Mega Watt wind farm on 36,000 acres in Texas. When complete it will be one of the largest wind power installations in America. A-Power Energy will build the tubines, each 2.5 MW capacity, at its plant in Shenyang. Financing is yet to be finalized but rumour is Chinese banks will fund the project....
Labels: alternative energy, clean tech, foreign investment
September 10, 2009
Western US States Embrace China
In less than a 48 hour period, the western American states Nevada and Colorado signed investment deals with Chinese state and business delegations. Nevada's governor is a Republican and Colorado's a Democrat so the desire to bring China in is a bi-partisan affair.
The various deals planned are around investment in clean tech or alternative energy including the possibility of Chinese solar firms setting up factories and power plants. Interestingly, one of the areas singled out for Chinese investment is mining. Both Nevada and Colorado are centers of gold mining in the USA. Nevada is by far the leading gold producing state....
The various deals planned are around investment in clean tech or alternative energy including the possibility of Chinese solar firms setting up factories and power plants. Interestingly, one of the areas singled out for Chinese investment is mining. Both Nevada and Colorado are centers of gold mining in the USA. Nevada is by far the leading gold producing state....
Labels: alternative energy, clean tech, foreign investment, foreign relations, free trade, gold
August 10, 2009
New Deals, Growth in China Clean Tech
The National Energy Administration in Beijing plans massive wind power installations by 2020. The first such wind farm of 10 Gigawatt capacity in Jiuquan, Gansu Province, near China's first (founded 1958) and most famous space center, is underway with Huaneng Power and several other companies - including foreign businesses - involved.
Meanwhile, Huaneng Power (NYSE: HNP) and Duke Energy signed a non-binding memorandum of understanding in Beijing for collaboration in clean coal, carbon capture, energy savings, and renewables. The venture opens the door for Huaneng investments in the USA.
In related news, GE will sell 9 gas turbines to a Fujian power company for over $100 million (US dollars). GE manufactures the gas turbines at plants in South Carolina and France....
Labels: alternative energy, foreign investment, General Electic
June 18, 2009
China BioEnergy Center Opens
The first bioenergy research center in China has opened at Nanning, capital of Guangxi Zhuang autonomous region that borders Vietnam. The center will focus on native crops such as cassava and sorghum. Currently a cassava for alcohol project makes 200,000 tonnes a year in the Guangxi city of Beihai.....
Labels: alternative energy, investment, peak oil
June 12, 2009
China Environmental Protection Ministry Halts New Dams
The Chinese Ministry for Environmental Protection has halted approvals for any new dams on the Jinsha River which forms the border between Sichuan and Tibet and the Nu River in Yunnan, as yet unexploited.
Malcolm Moore, reporting from Shanghai for the British Telegraph, says the halt affects 8 hydropower dams developed by the Huaneng and Huadian power companies - two of China's biggest listed producers.
But details are not clear. The slant is that the ruling is a victory for China's growing green movement. The huge Xiangjiaba hydroelectric dam along the lower reaches of the Jinsha, however, is not affected. Just this week Siemens and China State Grid said construction of the ultra high voltage transmission line from Xiangjiaba to Shanghai will be sped up....
Labels: alternative energy, yangtze
June 08, 2009
Trina Solar to Open California Distribution Center
Chinese solar PV maker Trina Solar (listed on the NY Stock Exchange under symbol TSL) is set to open this month a warehouse at the Port of Oakland, California. Indications are the Trina operations will result in net job creation for local workers at the facility....
Labels: alternative energy, foreign trade, free trade
May 29, 2009
China Offshores Solar Jobs to USA
Chinese solar PV maker Suntech Power has announced it would build a plant in the USA. The company revealed that the most agressive suitor has been the state of Oregon where several sites are under consideration. Suntech is a leading supplier of solar PV modules and with American manufacturing capacity the company will be well positioned to take advantage of Obama administration programs for solar energy development....
Labels: alternative energy, free trade, green energy
May 26, 2009
Beijing Announces Massive Alt Energy Investments
With US House Speaker Nancy Pelosi (D-San Francisco) in town, Beijing is announcing huge stimulus programs and policy changes for alternative energy in China. Pelosi said the need to work together on climate change was a "game changer" in relations between Beijing and Washington. Also in the Chinese capital, US Senator John Kerry, made similar remarks revealing a new approach in US relations with China linking old hat wedge issues such as "human rights" and "democracy" with China's environmental crisis. Both the US and China seem to be recognizing the need to move away from unfettered use of fossil fuels toward alternative energy production, a key signal that the anticipated boom in alt energy may be on its way.
Beijing is planning a big additional stimulus package for the renewable energy sector and will also focus on industrial consolidation in heavy industries, building sewer systems, and overall energy efficiency.
Perhaps of most interest to US exporters such as Westinghouse, Beijing will push for a dramatic increase in nuclear energy with plans for over 100 reactors by 2020.....
Labels: alternative energy, energy security, nuclear, pelosi
May 04, 2009
China Invests in US Wind Farms
A subsidiary of the former AVIC conglomerate will invest $300 million into Tang Energy, a Dallas based firm with Chinese operations, for wind farms in several states including Texas.
As the agreement was signed today Secretary of State Hillary Clinton opened a two day conference in Washington remarking that climate change is a "central focus" of the Obama administration's foreign policy. Meanwhile at a conference in Beijing it was revealed that China's new goals for wind energy - currently at 12 Gigawatt (GW) capacity - is for 100 GW wind power capacity by 2020. Are we witnessing the beginnings of the alt energy boom in China...?
Labels: alternative energy
Subscribe to Posts [Atom]
