GCL, a Chinese polysilicon company, raises capital to support supply-side reform
GCL Technology, a Chinese company, announced on Tuesday its intention to issue shares in order to raise funds for supply-side changes to polysilicon. Polysilicon is a component of solar cells. GCL said it would use the estimated HK$3.505billion ($450.66m) proceeds from the share issuance to "establish a capital reserves for reforming the supply side in order to promote structural adjustment of the polysilicon production capability", as well for growing other business areas, according to a Hong Kong Stock Exchange filing.
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system, although perhaps not as low as those in Shandong where solar investment drove prices down.
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system, although perhaps not as low as those in Shandong where solar investment drove prices down.
Germany is planning to stop using fixed-term contracts for renewable energy installations
According to the Economy Ministry, Germany will no longer use long-term fixed-price contracts for buying power from new renewable energies installations. However, it will continue to support this sector. The critics of fixed feed-in rates say that they are too expensive for the government and energy consumers, and that renewable industries have been established enough to be subjected to market forces. The economy ministry announced that alternative financing models will be examined.
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system, although perhaps not as low as those in Shandong where solar investment drove prices down.
China renewable auction signals challenges for solar developers
Analysts said that the solar power prices at China's first province-level auction under its new renewable price mechanism are so low, they may discourage investors from launching new projects. The auction held in Shandong last week, which is seen as an indicator for future auctions nationwide, indicates that prices will be lower in the future than they were under the old system, although perhaps not as low as those in Shandong where solar investment drove prices down.
China's fossil-fueled power generation in August rose to its highest level in decades
Data and records from the Statistics Bureau showed that China's fossil-fuelled electricity generation in August rose to its highest since at least 1998. This was to compensate for a fall in hydropower production to meet summer demands, according to data. The rise in demand was a result of China's most extreme summer ever, which increased air conditioning use. This shows the country's dependence on fossil fuels for the spikes in demand caused by extreme weather, even though coal's share is declining.
SIX delists shares in Meyer Burger, a solar panel manufacturer.
The SER regulatory firm of the Swiss stock exchange operator SIX announced on Tuesday that it will delist Meyer Burger's registered shares after the solar panel manufacturer appears to be missing the deadline for submitting its annual report by 2024. SER said that the reasons for the delay in the annual report were not addressed and will likely not be resolved by the deadline requested, leading to a request to delist the shares. SER stated that the decision was not yet legally binding, and could be appealed in 20 days.
US solar installation forecast slashed due to Trump policies, report says
A report released by a major trade group on Monday warned that the U.S. Solar Industry could install 27% less capacity in 2026- 2030 than it did before President Donald Trump passed his tax law, which rolled back subsidies to such projects. Why is it important? The Solar Energy Industries Association (the industry's leading U.S. trade group) and Wood Mackenzie's energy research firm have forecast that the Trump administration will stifle the development of clean energy sectors…
Robinhood joins S&P 500, a watershed moment in the US fintech industry
Robinhood Markets has replaced casino operator Caesars Entertainment on the S&P 500 benchmark. This is a significant moment for the Financial Technology sector, as the retail trading platforms joins the ranks with the most influential U.S. firms. S&P Dow Jones Indices announced the inclusion on Friday. This is expected to increase demand for Robinhood stock, as index-tracking fund managers adjust their holdings. This also highlights Robinhood's…
Georgia Power has received approval for 1,068MW of solar energy projects
Georgia Power, a unit of Southern Co, said that it received approval on Friday from the Georgia Public Service Commission to enter into five new power purchase agreements for solar sites totaling 1,068 Megawatts (MW). The new facilities are part of the Clean and Renewable Energy Subscription 2023 (CARES) program. This allows commercial and industrial clients to subscribe to renewable energies to improve sustainability efforts. Third-party companies will construct and maintain the approved projects.
China solar stocks rise on hope of a turnaround
China solar stocks rose in Friday's trading after a polysilicon manufacturer said that the industry has reached its bottom. Regulators also called for additional measures to increase sector revenue. Silicon wafers, which convert sunlight into electricity, are made from polysilicon. The government campaign to curb excessive and unsustainable competition between Chinese firms in order to increase solar prices was a major factor in driving up the stock price. GCL Technology Holdings shares closed Friday with a gain of more than 10%.
Experts say that India's tax reduction on solar and wind energy devices will lower clean energy tariff.
India's decision on cutting taxes on solar and winds equipment will lower the costs of new plants, and pressurize existing project developers to reduce their tariffs. This will accelerate India's transition to renewable energy. On Wednesday, the government lowered the goods and service tax (GST), which was previously 12% on solar photovoltaic panels and wind turbine generators, to 5%. This is part of a broader tax cut on hundreds of consumer products.
Reactions to India's reduction of consumption tax on hundreds items
India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to cars, to boost domestic demand. It also simplified its complex goods and services tax structure, reducing the number of rate slabs to two from four. There were some exceptions, however, for luxury goods and "sin goods". On Thursday, the benchmark BSE Sensex index and Nifty 50 both rose by as much as 1.1%. By 11:55 IST they had pared their gains and were each up around 0.5%. "The next-generation GST Reforms...
Reactions to India's reduction of consumption tax on hundreds items
India announced on Wednesday that it would reduce taxes on hundreds of items, from soaps to small vehicles, to boost domestic demand. It also simplified its complex goods and services tax structure, reducing the number of rate slabs to two from four. There were some exceptions, however, for luxury goods and "sin goods". On Thursday, the benchmark BSE Sensex index and Nifty 50 both rose by as much as 1.1%. By 11:55 IST they had pared their gains and were each up around 0.5%. "The next-generation GST Reforms...
GCL China expects to receive more information on polysilicon soon
In a Sunday call with investors, a GCL Technology Holdings representative indicated that more information about a plan to restructure China’s polysilicon sector would be released shortly. In response to a query about an acquisition fund, GCL's Chief Finance Officer Yang Wenzhong stated that "we believe more information will be available soon regarding the reform and we will know how our cash flow will move in the future." He said that he was "not 100% certain" the reform would take place this year.
GCL China expects to receive more information on polysilicon soon
In a Sunday call with investors, a GCL Technology Holdings representative indicated that more information about a plan to restructure China’s polysilicon sector would be released shortly. In response to a query about an acquisition fund, GCL's Chief Finance Officer Yang Wenzhong stated that "we believe more information will be available soon regarding the reform and we will know how our cash flow will move in the future." He said that he was "not 100% certain" the reform would take place this year.
After staff cuts, US Energy Data Agency delays reports on uranium and international outlook
Energy Statistics, the U.S. Government's arm that collects and analyzes data about energy, has seen its staff reduced this year. On Thursday, it announced it would delay publishing important energy data, including international outlook, as well as key energy information on uranium. An Energy Information Administration spokesperson said that the International Energy Outlook, which was originally scheduled to be released in January, may not be available until September.
After staff cuts, US Energy Data Agency delays reports on uranium and international outlook
Energy Statistics, the U.S. Government's arm that collects and analyzes data about energy, has seen its staff reduced this year. On Thursday, it announced it would delay publishing important energy data, including international outlook, as well as key energy information on uranium. An Energy Information Administration spokesperson said that the International Energy Outlook, which was originally scheduled to be released in January, may not be available until September.
China's industrial profit continues to decline due to deflation and demand woes
China's industrial profit fell for the third consecutive month in August, as businesses struggled to cope with a subdued market and persistent deflation at the factory gate despite policies designed to support the economic recovery. Last month, exports exceeded expectations but a number of disappointing indicators has kept Beijing under pressure to provide more stimulus. The government has taken measures to boost domestic consumption and stop price wars.
China's solar industry is suffering from a massive loss due to falling prices
Analysts say that restructuring the industry in order to reduce oversupply can help it return to profitability. Longi Green Energy, in a rare positive development, saw its net loss shrink to 2.6 billion Yuan ($364million) from 5.2 billion Yuan a few months earlier. Analysts at Huatai Securities in a note published on Monday attributed this improvement to "strengthened management", which led to lower costs and asset impairment losses. A surge in solar panel installations in the domestic market due to frontloading also helped sales.
Russell: China's thermal coal imports surge as India's tumble
In August, China's seaborne thermal coal imports are expected to reach their highest level this year while India's top buyers slump to a three-and-a half-year low. The two largest importers of this fuel, which is mainly used to generate electricity, have divergent trends. This is largely due to the interaction between coal production on their home markets and the increasing use of renewable energy. According to commodity analysts Kpler, China's seaborne thermal coal imports are expected to reach 25,63 million metric tonnes in August.
EIA: Solar could account for 50% of the new US electricity generated this year
The Energy Information Administration reported on Wednesday that developers are on course to add 33 gigawatts (GW) of solar power this year in the U.S., which is about half the new electricity generation capacity planned for 2025. The EIA said that if the plans were realized, the additions of large-scale solar energy in the U.S. could reach a new record. It based its analyses on a survey conducted with developers. The EIA also predicted that new battery storage systems…
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry, as the latter is relying on cheap natural gas and abundant supplies to expand. The increasing competition between power companies and LNG exporters for U.S.
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry, as the latter is relying on cheap natural gas and abundant supplies to expand. The increasing competition between power companies and LNG exporters for U.S.
The major South Korean petrochemical companies and their production
The South Korean government announced on Wednesday a plan for 10 petrochemical firms to restructure operations. This included a large reduction in their naphtha cracking capacity. According to the Korea Chemical Industry Association, South Korea is home to some of the world's largest petrochemical companies. South Korean producers suffered losses because of oversupply in China, which is the largest petrochemicals market, as well as a sluggish consumer demand.
China urges solar industry to reduce overcapacity
The Chinese industry ministry announced on Tuesday that it had held its second meeting in two months with representatives of the solar industry. It urged the industry to tighten regulations, reduce overcapacity, and reduce the extreme competition between firms. The ministry issued a press release in which it told the representatives to "jointly encourage the sustainable and healthy development of the industry". The statement said that parties should "curb low price disorderly competition", in reference to the overcapacity of the sector.
Solar and wind farms will be scrutinized more closely by USDA, but some projects may still continue
According to a release, the U.S. Department of Agriculture announced on Tuesday that it would increase scrutiny of certain solar and wind energy projects. However, they did not end all support from their agency for clean energy projects in U.S. farmland. The announcement came a day following an announcement by Agriculture Secretary Brooke Rollins on X about her agency's decision to stop funding wind and solar projects on productive farmland. The agency's Tuesday press release stated that it would no longer fund larger renewable energy projects.
China urges solar industry to reduce overcapacity
The Chinese industry ministry announced on Tuesday that it had held its second meeting in two months with representatives of the solar industry. It urged the industry to tighten regulations, reduce overcapacity, and reduce the extreme competition between firms. The ministry issued a statement in which it told the representatives at the meeting to "jointly encourage the sustainable and healthy development of the industry". The statement said that parties should "curb low price disorderly competition"…
USDA Ends Programs for Solar, Wind Projects on Farms
In a Monday post on X, Agriculture Secretary Brooke Rollins announced that the U.S. Department of Agriculture would no longer be supporting solar and wind energy projects on productive farmland. This is just the latest of a series actions taken by President Donald Trump's administration to stall the development of solar and wind energy. Trump claims that these sources of energy are unreliable and expensive and are dependent on Chinese supply chain.
Trump's tax rules benefit clean energy investors
The shares of U.S. companies that produce solar energy rose Monday, after the Trump Administration released new rules on clean energy subsidies. These were less strict than many investors had expected. The Treasury Department narrowed its definition of what constitutes a solar or a wind project as being under construction. This is a requirement for qualifying for federal tax credits that are worth 30% of the project's costs. Changes include requiring that developers of large solar arrays or wind farms complete actual work…
Data center owners ask US Treasury to maintain renewable energy subsidy regulations
The Data Center Coalition, which includes Google, Amazon, and Microsoft as data center owners, has called on U.S. Treasury Sec. Scott Bessent, to maintain existing rules regarding wind and solar energy subsides, stating that they have allowed the industry to grow rapidly and remain ahead of China's competition. A tighter set of rules for qualifying projects for federal tax credits on clean energy could slow the development of new power generation, at a moment when artificial intelligence and digital economy are driving a surge in demand.
T1, Corning and Corning to produce solar panels in the USA
T1 Energy, a U.S.-based solar company, and Corning, a specialty glass manufacturer, have announced a deal to create a domestic supply chain for solar panels, including polysilicon and wafers. This deal will allow T1 to meet the growing demand in the United States for panels made with American components. Solar companies are restricted from claiming clean energy tax credits under President Donald Trump's One Big Beautiful Bill Act if their projects include significant amounts of equipment made by "foreign entity of concern" such as China.
China's fossil fuelled power rose to an 11-month peak in July
China's fossil fuelled power generation, mainly coal, increased in July to its highest level since August 20,24, according to official data released on Friday. The record-breaking heat also pushed the power demand up to new records across a large part of China. According to the National Bureau of Statistics, fossil-fuelled electricity generation, also known as thermal power in China, and mainly generated by coal, with a small portion from natural gas was up 4.3% from a year ago to 602 billion Kilowatt-hours.
Trump Administration unveils tougher rules on solar and wind subsidies
Trump's administration will likely take another step to curb the growth of renewable energies in the United States as early as Monday by making it more difficult for companies to claim federal subsidies for wind and sun energy. The Treasury Department will meet a deadline of 45 days, set in July by U.S. president Donald Trump, to revise the rules that govern who is eligible for tax credits on clean energy, which are being phased out earlier than expected under Republicans' One Big Beautiful Bill Act.
The major South Korean petrochemical companies and their production
Kim Jung-kwan, the Minister of Industry in South Korea, said that a plan will be announced this month for restructuring its ailing petrochemical industry. According to the Korea Chemical Industry Association, South Korea is home to some of the world's largest petrochemical companies. South Korean producers suffered losses because of oversupply in China, which is the largest petrochemicals market, as well as a sluggish consumer demand. According to KCIA…