China Resources New Energy will debut on July 2, the biggest IPO in Asia this year.
China Resources New Energy is set to begin trading in Shenzhen, China on July 2, after an initial public offer that could raise as much as 24.5 billion yuan (3.6 billion dollars). This will be the largest IPO ever for Shenzhen and Asia. China's stock exchange has just witnessed a?blockbuster deal that tests the appetite of investors for clean energy. Beijing is targeting half its electricity to come from non-fossil fuels by 2030. Power producers are also facing falling power prices and grid limitations, as well as heavy competition.
Sources say that the US is working on a ban against Chinese energy inverters.
Five?people familiar with the situation' say that the Trump administration is working on a ban of imports of foreign inverters which connect solar panels and batteries to the power grid. They are concerned China may use them to disrupt the supply of electricity. Sources say that the rule?being drafted? by the U.S. Federal Communications Commission could be published this year and would apply to 'new foreign' inverter models. Five sources…
Report: US wind and solar investments could be threatened by $121 billion of stalled permits.
A report released on Monday found that Trump administration policies 'that have stalled permits of renewable energy projects' are putting $121 billion in investment at risk, and slowing the development of 'wind, solar, and storage.capacity required to meet increasing?power demand. Wood Mackenzie's findings highlighted the tension between President Donald Trump’s desire to fast-track energy infrastructure in order to support artificial intelligence and his opposition to renewable energies.
Report: US wind and solar investments could be threatened by $121 billion in stalled permits
A report released on Monday found that Trump administration policies have slowed permits for renewable energy project, putting $121 billion in investment at risk. Wood Mackenzie, a research firm in energy, found that President Donald Trump was torn between his desire to accelerate energy infrastructure for artificial intelligence and his opposition to the renewable energy. The report stated that it examined early-stage projects worth $121 billion which?faced investment risks due delays.
Projects are rushed as prices soar due to the Trump Clean Energy Tax Credit Cutoff
Solar developers in the United States have secured federal subsidies to help them build a large number of solar projects that will nearly double their current capacity. They are rushing to beat a deadline on July 4, which could cause a sharp increase in renewable power costs. The projections show the loss of 'valuable renewable energy credits worth at least 30 percent of project costs. This change threatens to increase U.S. electricity prices due to artificial intelligence-driven demand.
Solar Manufacturing Group seeks US Trade Probe of Korea Cell Imports
According to a petition seen, three solar panel manufacturers urged U.S. officials to investigate imports of cells from South Korea, claiming that producers such as Hanwha’s?Qcells were using them to evade U.S. tariffs for Chinese products. Canadian Solar, SEG, and Heliene all have solar panel factories in the United States. The group American Manufacturers for Energy Resilience is seeking an anti-circumvention investigation into South Korean solar cell imports.
Swedish and Dutch fans celebrate before World Cup clash
Two heavyweight fan groups are bringing the heat in Houston to a halt as they prepare for the World Cup Group F match between Sweden and Netherlands. A maypole was planted in a hotel courtyard, and fans wore flower crowns while DJ music played in the background. Andreas Richt is the head of the Swedish supporters' group who organised the event. Sweden will be aiming to regain their confidence after a disappointing draw against Japan. The latest action, however, is underway for many fans.
China Resources New Energy will raise up to $3.6 Billion in Shenzhen’s largest IPO
A filing on Thursday showed that China Resources New Energy has set its price for Shenzhen's IPO at 10.11 Yuan per share. This could raise as much as $24.5 billion ($3.6 billion), if the option to sell more shares is used. China Resources Power's renewable unit will raise 21,30 billion yuan, but if demand is high it can exercise a greenshoe option and sell additional shares. This would fall short of the original target of 24.5 billion dollars. The sale would meet the original target if the greenshoe option were used.
China's fossil fuelled power continues to rise in May despite weak wind output
Data from the'statistics bureau' showed that China's fossil fuelled power generation, which is mainly derived?from coal, but also includes a small amount of natural gas, increased by 2.1% from a year ago in May, as wind speeds decreased. The National Bureau of Statistics reported that fossil-fueled or thermal power grew 3.4% in the first five month of the year. The increase in the?volumes of hydropower, which increased 13% compared to a year ago in May…
China is'strongly unhappy' about the Pentagon's move against top Chinese technology firms
China is "strongly disappointed" by the U.S. decision to add several large Chinese firms to the Pentagon list of companies it claims are aiding China’s military, said Saturday's commerce ministry. The Foreign Ministry has also expressed concerns about the U.S. Defense Department updating its long-awaited list on Monday. This included top technology names such as ecommerce giant Alibaba, internet search provider Baidu, and automakers BYD, and NIO.
China Resources New Energy Plans $3.6 Billion Shenzhen IPO
China Resources New Energy (the'renewable energy division' of?China Resources Power) plans to raise approximately 24.5 billion Yuan ($3.62billion) through a Shenzhen Initial Public Offering, according to the prospectus it filed on Thursday. The company operates photovoltaic and wind farms in China, and is the group's primary renewable energy platform. According to the filing, price consultations will start on June 16 and subscriptions are scheduled to open on June 22.
US adds Chinese battery, solar firms to military-linked list
The U.S. added some of the largest solar and battery manufacturers in the world to a list that it believes is aiding China's militaries. Washington has added Trinasolar, JA Solar Technology, and a number of other top technology companies to the long-awaited list of names?on monday. These include e-commerce giant Alibaba, and internet search provider Baidu. The list also included two of the world's largest battery manufacturers for electric vehicles and energy storage, JA Solar Technology and EVE Energy.
Qcells begins cell production in Georgia factory, a milestone for US solar
Qcells is the U.S. arm of Hanwha's solar division in Korea. The company announced on Tuesday that it had begun'making solar cells' at its Cartersville factory, Georgia. This was a significant milestone for the United States' efforts to reduce reliance on imported 'equipment' from Asia. The production of cells is an important step in Qcells' quest to produce all key components for a silicon-based panel. Solar cells are the basic building blocks for modules or panels that convert sunlight to electricity.
Nvidia's AI PC push banks on unproven demand beyond niche users
Analysts said that Nvidia’s entry into AI PC market last week with its RTX Spark Superchip is less a breakthrough 'for regular users as it is a high-stakes wager on a concept which has been largely unproven to find a 'wider appeal. The chipmaker at the Computex show in Taiwan pitched a future that laptops would run large 'AI models' locally and function as personal 'digital agents. No cloud is needed. PC?makers?HP and Dell make this claim for almost three years…
China's major solar companies are focusing on batteries to boost panel sales as they falter
China's largest solar panel manufacturers are increasing exports of higher-margin batteries to boost revenues as the growth in PV sales slows. They bet on growing global demand for renewable energy storage, to reduce reliance on fossil fuels. Executives expect global demand to drop in 2026 due to weaker domestic installations, slower exports and record low prices. Company executives said that this has prompted players such as JinkoSolar and JA Solar to expand into battery storage.
Experts say that green jobs cannot solve South African unemployment.
According to the most recent government statistics, nearly one in three South Africans is unemployed. Experts say that the true level of unemployment is likely to be around 10% higher. They say that youth unemployment is about 60%. As part of the Just Energy Transition Investment plan, South Africa has phased out only one coal-fired plant, Komati, in Mpumalanga Province. This closure resulted in the loss of thousands of jobs, and very few new opportunities.
BlackRock's Atlas invests $1 billion into renewable energy in Brazil
Atlas Renewable Energy has put on hold plans to invest $1 billion in Brazil because the Brazilian grid operator has repeatedly rejected renewable energy, said CEO Carlos Barrera. Barrera noted that Atlas, owned by BlackRock's Global Infrastructure Partners, had planned projects for last year and this, noting that the company's existing projects were curtailed up to 15%-25% in the second quarter. The curtailment of power is the amount that could have been generated by solar or wind but was rejected pre-emptively because a grid reached?its limit.
Andy Home: Investors are still betting on scarcity despite the rebalancing of ROI-Tin
What can tame a wild tin industry? The London Metal Exchange's (LME) smallest base metal contract continues to defy the market. LME 3-month tin trades?at $55,225 a metric ton. This is close to the previous all-time record of $59,040, which was reached during the febrile cross-metals rally that took place in January. In March 2022 metal prices rose in response to Russia's invasion of Ukraine. London's tin prices are up 36% from the beginning of the year. Aluminium is the next best performer, with a rise of 23%.
Andy Home: Investors are still betting on scarcity despite the rebalancing of ROI-Tin
What can tame a wild tin industry? The London Metal Exchange's (LME) smallest base metal contract continues to defy the market gravity. LME 3-month tin trades at $55,225 a metric ton. This is close to the previous all-time high of $59,040, reached during the febrile cross-metals rally that took place in January. In March 2022 metal prices soared as a result of Russia's invasion of Ukraine. London's tin prices have risen by 36% in the first six months of this year. Aluminium is the next best performer, with a 23% increase.
