China relaxes limits on renewables: China has eased the limits on renewable power installations in energy-rich areas, one of several policies issued last week to promote clean energy, Bloomberg reported last Thursday. To cut down on wasted energy, wind and solar farms can have up to 10% — compared to the previous 5% — of their generation curtailed in “areas with better resource conditions.” Excess renewables can be used in areas that were previously declared overcrowded and could mean an extra 30 GW of solar panel installations this year. The other policies included increasing the battery storage capacity target to 40 GW by 2025, up from 30 GW, faster build out of power lines, as well as a rigorous approval process for green energy manufacturing.

The market is already feeling it: More flexible limits have curbed fears of slowing renewable installations due to rising grid congestions. Following the announcement, shares in Chinese clean energy companies rose with GCL Technology Holdings rising 10% and China Longyuan Power Group Corp gaining 6.1%.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • Ardian AirCarbon platform to help airports achieve net zero: French private equity firm Ardian launched a free, open version of its Ardian AirCarbon platform to help airports monitor and reduce aviation emissions globally. The platform provides data on average carbon emissions from airports in each country and fuel efficiency data for most of the world’s commercial airports. (Statement)
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