Independent Technical Report

Total Page:16

File Type:pdf, Size:1020Kb

Independent Technical Report APPENDIXV INDEPENDENTTECHNICALREPORT Technical Assessment Report December 2011 Huadian Fuxin Energy Co., Ltd – V-1 – APPENDIXV INDEPENDENTTECHNICALREPORT ISSUE AND REVISION RECORD Revision Date Originator Checker Approver Description 01 2011-11-2 ெձৌ ю࠭ Paul Jenkins The first draft for ௓ᘙ ૎อਃ company review, ࠏ ϡᘴݰ though there are stillفߴ Jens Kahler Jeff Kerr some documents ঺ẙᑢ needed from ҽል͛ company. ᆄජᴿ 02 2011-11-14 ெձৌ ю࠭ Paul Jenkins The second draft for ௓ᘙ ૎อਃ company review, ࠏ ϡᘴݰ though there are stillفߴ Jens Kahler Jeff Kerr some documents ঺ẙᑢ needed from ҽል͛ company. ᆄජᴿ 03 2011-12-5 ெձৌ ю࠭ Paul Jenkins The third draft for ௓ᘙ ૎อਃ company review, ࠏ ϡᘴݰ though there are stillفߴ Jens Kahler Jeff Kerr some documents ঺ẙᑢ needed from ҽል͛ company. ᆄජᴿ 04 2011-12-16 ெձৌ ю࠭ Paul Jenkins The forth draft for ௓ᘙ ૎อਃ company review, the ࠏ ϡᘴݰ Chinese is the finalفߴ Jens Kahler Jeff Kerr version, and the ঺ẙᑢ English is the first ҽል͛ draft which still ᆄජᴿ needs to be discussed with company. 05 2011-12-31 ெձৌ ю࠭ Paul Jenkins The fifth is the final ௓ᘙ ૎อਃ version. ࠏ ϡᘴݰفߴ Jens Kahler Jeff Kerr ঺ẙᑢ ҽል͛ ᆄජᴿ This document is issued for the party which commissioned it and for specific purposes connected with the above-captioned project only. It should not be relied upon by any other party or used for any other purpose. We accept no responsibility for the consequences of this document being relied upon by any other party, or being used for any other purpose, or containing any error or omission which is due to an error or omission in data supplied to us by other parties. This document contains confidential information and proprietary intellectual property. It should not be shown to other parties without consent from us and from the party which commissioned it. Address: Suite 1005, Tower E, Global Trade Centre, 36 North 3rd Ring Road East, Beijing 100013, China T +86 (0)10 5825 7575 F +86 (0)10 5957 5169, W www.mottmac.com – V-2 – APPENDIXV INDEPENDENTTECHNICALREPORT CONTENTS Section Page 1. Introduction ..................................................V-17 1.1 Overview ........................................ ......... V-17 1.2 AssetsOverview .................................. .......... V-18 1.2.1Introduction .................................. ......... V-18 1.2.2Selection of Representative Power Plants . ........... V-18 1.3 ReportStructure ................................. ........... V-22 1.4 StatusofthisDocument ............................ .......... V-22 2. Project Participants ............................................ V-22 2.1 Introduction .................................... ........... V-22 2.2 Main Equipment Suppliers .......................... .......... V-23 2.2.1WTG Manufacturers .............................. ....... V-23 2.2.2Hydro Turbine Manufacturers ..................... ......... V-26 2.2.3Boiler and Steam Turbine Suppliers . ......... V-27 2.3 GridOperators ................................... .......... V-28 2.3.1Grid Operators of Representative Projects . ........... V-28 2.3.2State Grid Corporation of China ................... ......... V-29 2.3.3Inner Mongolia Power Company ..................... V-30 2.4 Conclusions ..................................... .......... V-30 3. Wind Farms Technical Assessment ................................. V-30 3.1 Introduction .................................... ........... V-30 3.1.1Wind ResourcesAssessment ....................... ........ V-30 3.1.2Grid ConnectionAssessment ...................... ........ V-35 3.1.3Operation & Maintenance Execution of Wind Farms . ....... V-39 3.2 KulunWindFarmPhaseI ............................. ....... V-44 3.2.1WTGs.......................................... V-44 3.2.2Grid ConnectionAssessment ...................... ........ V-45 3.2.3Performance of Wind Farm ......................... ....... V-46 3.2.4Conclusion .................................... ........ V-49 – V-3 – APPENDIXV INDEPENDENTTECHNICALREPORT Page 3.3 XiaocaohuWindFarm1PhaseI ........................ ....... V-50 3.3.1WTGs.......................................... V-50 3.3.2Grid ConnectionAssessment ...................... ........ V-51 3.3.3Performance of Wind Farm ......................... ....... V-52 3.3.4Conclusion .................................... ........ V-55 3.4 BurqinWindFarmPhaseI ............................ ........ V-55 3.4.1WTGs.......................................... V-55 3.4.2Grid ConnectionAssessment ...................... ........ V-56 3.4.3Performance of Wind Farm ......................... ....... V-57 3.4.4Conclusion .................................... ........ V-59 3.5 GuazhouWindFarmPhaseI ........................... ....... V-60 3.5.1WTGs.......................................... V-60 3.5.2Grid ConnectionAssessment ...................... ........ V-60 3.5.3Performance of Wind Farm ......................... ....... V-62 3.5.4Conclusion .................................... ........ V-64 3.6 MulingWindFarmPhaseI ............................ ........ V-64 3.6.1WTGs.......................................... V-64 3.6.2Grid ConnectionAssessment ...................... ........ V-65 3.6.3Performance of Wind Farm ......................... ....... V-66 3.6.4Conclusion .................................... ........ V-69 3.7 Yilan Jiguanshan Wind Farm Phase I ................... ......... V-70 3.7.1WTGs.......................................... V-70 3.7.2Grid ConnectionAssessment ...................... ........ V-71 3.7.3Performance of Wind Farm ......................... ....... V-72 3.7.4Conclusion .................................... ........ V-74 3.8 Lianyungang Guanyun Wind Farm Phase I ................ ........ V-75 3.8.1WTGs.......................................... V-75 3.8.2Grid ConnectionAssessment ...................... ........ V-76 3.8.3Performance of Wind Farm ......................... ....... V-77 3.8.4Conclusion .................................... ........ V-79 3.9 Conclusion of Wind Farms Technical Assessment . ........... V-80 – V-4 – APPENDIXV INDEPENDENTTECHNICALREPORT Page 4. Technical Assessment of Hydropower Station ........................ V-82 4.1 Introduction .................................... ........... V-82 4.1.1General....................................... ........ V-82 4.1.2Regular Dam Safety Inspection .................... ........ V-83 4.1.3M&E Maintenance Schedule ........................ ....... V-84 4.2 Baisha Hydropower Plant ........................... .......... V-85 4.2.1General....................................... ........ V-85 4.2.2Project Technical Program Review . ......... V-85 4.2.3Plant Maintenance and Operation . ......... V-89 4.2.4Organization and Staff .......................... ......... V-93 4.2.5Quality and Condition ........................... ........ V-93 4.2.6Consent ....................................... ....... V-94 4.2.7Grid ConnectionAgreement ....................... ........ V-94 4.2.8Conclusion .................................... ........ V-94 4.3 Mianhuatan Hydropower Plant ....................... .......... V-94 4.3.1General....................................... ........ V-94 4.3.2Project Technical Program Review . ......... V-95 4.3.3Plant Operation and Maintenance . ......... V-99 4.3.4Organization and Staff .......................... ......... V-104 4.3.5Environment ................................... ........ V-104 4.3.6Consents ...................................... ........ V-104 4.3.7Grid ConnectionAgreement ....................... ........ V-104 4.3.8Conclusions ................................... ........ V-104 – V-5 – APPENDIXV INDEPENDENTTECHNICALREPORT Page 4.4 AnshaHydropowerPlant ............................ ......... V-105 4.4.1General....................................... ........ V-105 4.4.2Project Technical Program Review . ......... V-105 4.4.3Plant Operation and Maintenance . ......... V-108 4.4.4Organization and Staff .......................... ......... V-113 4.4.5Environment ................................... ........ V-114 4.4.6Consents ...................................... ........ V-114 4.4.7Grid ConnectionAgreement ....................... ........ V-114 4.4.8Conclusions ................................... ........ V-114 4.5 Fenghai Hydropower Plant .......................... .......... V-115 4.5.1General....................................... ........ V-115 4.5.2Project Technical Program Review . ......... V-115 4.5.3Plant Operation and Maintenance . ......... V-118 4.5.4Organization and Staff .......................... ......... V-122 4.5.5Environment ................................... ........ V-122 4.5.6Consents ...................................... ........ V-122 4.5.7Grid ConnectionAgreement ....................... ........ V-122 4.5.8Conclusions ................................... ........ V-122 4.6 Qinshan Hydropower Plant .......................... .......... V-123 4.6.1General....................................... ........ V-123 4.6.2Project Technical Program Review . ......... V-123 4.6.3Operation and Maintenance ....................... ........ V-126 4.6.4Organization and Staff .......................... ......... V-129 4.6.5Environment ................................... ........ V-129 4.6.6Consents ...................................... ........ V-129 4.6.7Grid ConnectionAgreement ....................... ........ V-129 4.6.8Conclusions ................................... ........ V-129 – V-6 – APPENDIXV INDEPENDENTTECHNICALREPORT Page 4.7 Gutianxi Second Cascade Hydropower Plant . .......... V-130 4.7.1General......................................
Recommended publications
  • An Overview of Hakka Migration History: Where Are You From?
    客家 My China Roots & CBA Jamaica An overview of Hakka Migration History: Where are you from? July, 2016 www.mychinaroots.com & www.cbajamaica.com 15 © My China Roots An Overview of Hakka Migration History: Where Are You From? Table of Contents Introduction.................................................................................................................................... 3 Five Key Hakka Migration Waves............................................................................................. 3 Mapping the Waves ....................................................................................................................... 3 First Wave: 4th Century, “the Five Barbarians,” Jin Dynasty......................................................... 4 Second Wave: 10th Century, Fall of the Tang Dynasty ................................................................. 6 Third Wave: Late 12th & 13th Century, Fall Northern & Southern Song Dynasties ....................... 7 Fourth Wave: 2nd Half 17th Century, Ming-Qing Cataclysm .......................................................... 8 Fifth Wave: 19th – Early 20th Century ............................................................................................. 9 Case Study: Hakka Migration to Jamaica ............................................................................ 11 Introduction .................................................................................................................................. 11 Context for Early Migration: The Coolie Trade...........................................................................
    [Show full text]
  • Analysis and Countermeasures of China's Green Electric Power
    sustainability Review Analysis and Countermeasures of China’s Green Electric Power Development Keke Wang 1,2, Dongxiao Niu 1,2, Min Yu 1,2, Yi Liang 3,4,* , Xiaolong Yang 1,2, Jing Wu 1 and Xiaomin Xu 1,2 1 School of Economics and Management, North China Electric Power University, Changping District, Beijing 102206, China; [email protected] (K.W.); [email protected] (D.N.); [email protected] (M.Y.); [email protected] (X.Y.); [email protected] (J.W.); [email protected] (X.X.) 2 Beijing Key Laboratory of New Energy Power and Low-Carbon Development, School of Economics and Management, North China Electric Power University, Changping District, Beijing 102206, China 3 School of Management, Hebei GEO University, Shijiazhuang 050031, China 4 Strategy and Management Base of Mineral Resources in Hebei Province, Hebei GEO University, Shijiazhuang 050031, China * Correspondence: [email protected] Abstract: The green development of electric power is a key measure to alleviate the shortage of energy supply, adjust the energy structure, reduce environmental pollution and improve energy efficiency. Firstly, the situation and challenges of China’s power green development is analyzed. On this basis, the power green development models are categorized into two typical research objects, which are multi-energy synergy mode, represented by integrated energy systems, and multi-energy combination mode with clean energy participation. The key points of the green power development model with the consumption of new energy as the core are reviewed, and then China’s exploration of the power green development system and the latest research results are reviewed.
    [Show full text]
  • Annual Report 年度報告 2018 Annual Report
    (A joint stock limited company incorporated in the People’s Republic of China with limited liability) (於中華人民共和國註冊成立的股份有限公司) Stock Code: 00816 股份代號:00816 2018 2018 ANNUAL REPORT 年度報告 2018 ANNUAL REPORT ANNUAL 2018 年度報告 Contents Chairman’s Statement 2 General Manager’s Statement 3 Key Operating and Financial Data 4 5 Years Summary of Consolidated Statement of 6 Profit or Loss and Other Comprehensive Income 5 Years Summary of Consolidated Statement of 7 Financial Position Company Profile 8 Corporate Shareholding Structure 9 Corporate Milestones in 2018 10 Directors’ Report 12 Biographies of Directors, Supervisors and Senior 30 Management Management Discussion and Analysis 44 Environmental, Social and Governance Report 57 Corporate Governance Report 94 Report of the Board of Supervisors 114 Independent Auditor’s Report 117 Consolidated Statement of Profit or Loss and 122 Other Comprehensive Income Consolidated Statement of Financial Position 124 Consolidated Statement of Changes in Equity 126 Consolidated Statement of Cash Flows 128 Notes to Financial Statements 130 Definition and Glossary of Technical Terms 258 Corporate Information 261 Chairman’s Statement Chairman - Huang Shaoxiong Dear Shareholders, direction, strive to grow its wind and solar power business with a focus on quality and efficiency Over the past year, Huadian Fuxin earnestly studied enhancement, fully exploit its investment and and put into practice Xi Jinping Thought on Socialism financing capability and further strengthen all-round with Chinese Characteristics for a New Era and risk control, so as to consistently enhance its vitality, the guiding principles from the 19th CPC National control, influence and global competitiveness and Congress. Adhering to the strategy-led approach, build itself into an internationally leading listed clean Huadian Fuxin concentrated on upgrading business energy company featuring low carbon, safety and high development, strived for efficiency improvement and efficiency.
    [Show full text]
  • Final Report
    25 June 2015 Final Report Assessment of the normative and policy framework governing the Chinese economy and its impact on international competition For: AEGIS EUROPE Brussels Belgium THINK!DESK China Research & Consulting Prof. Dr. Markus Taube & Dr. Christian Schmidkonz GbR Merzstrasse 18 81679 München Tel.: +49 - (0)89 - 26 21 27 82 [email protected] www.thinkdesk.de 1 This report has been prepared by: Prof. Dr. Markus Taube Peter Thomas in der Heiden 2 Contents Executive Summary ························································································· 11 1. Introduction ······························································································ 27 Part I: The Management of the Chinese Economy: Institutional Set-up and Policy Instruments 2. Centralised Planning and Market Forces in the Chinese Economy ··················· 32 2.1 The Role of Planning in the Chinese Economy ············································ 32 2.1.1 Types of Plans ··············································································· 32 2.1.2 Plans and Complementary Documents················································ 41 2.2 Dedicated Government Programmes for Industry Guidance ··························· 45 2.2.1 Subsidies – An Overview ································································· 45 2.2.1.1 Examples for Preferential Policies and Grant Giving Operations by Local Governments ································································ 51 2.2.1.2 Recent Initiatives by the Central Government
    [Show full text]
  • China Energy Weekly, Please Contact: [email protected]
    September 18 – September 24, 2008 Volume VII, Issue 37 EDITORIAL SUMMARY--------------------------------------------------------------------------------------------------------------------- 2 SUMMARY OF THIS WEEK'S REPORT ------------------------------------------------------------------------------------------------------------------------------------------------------------- 2 TOP STORY------------------------------------------------------------------------------------------------------------------------------------ 3 NDRC TO LIMIT PV POWER PROJECTS UNTIL BETTER TECH CAN REDUCE COSTS-------------------------------------------------------------------------------------------- 3 HEADLINE NEWS ---------------------------------------------------------------------------------------------------------------------------- 3 CHINA SHOULD ISSUE METHANOL FUEL STANDARD - EXPERT ------------------------------------------------------------------------------------------------------------------------ 3 JAPAN INTERESTED IN IMPORTING DME FROM CHINA ------------------------------------------------------------------------------------------------------------------------------------ 4 CHINA'S COAL SUPPLY SHORTAGES REMAIN, MAY EASE IN WINTER --------------------------------------------------------------------------------------------------------------- 5 CHINESE EXTENSION OF ESPO MAY BE APPROVED SOON - RUSSIAN ENERGY MINISTER --------------------------------------------------------------------------------- 5 POLICIES & REGULATIONS--------------------------------------------------------------------------------------------------------------
    [Show full text]
  • Announcement on Replies to the Letter of Enquiry from The
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (a Sino-foreign joint stock limited company incorporated in the People’s Republic of China) (Stock Code: 902) ANNOUNCEMENT ON REPLIES TO THE LETTER OF ENQUIRY FROM THE SHANGHAI STOCK EXCHANGE Huaneng Power International, Inc. (“the Company”), on 14 April 2020, received a Letter of Enquiry regarding Information Disclosure of 2019 Annual Report of Huaneng Power International, Inc. (Shang Zheng Gong Han [2020] No. 0350) (the “Letter of Enquiry”) from the Shanghai Stock Exchange. Upon receiving the Letter of Enquiry, the Company proactively arranged with relevant parties to carry out diligent research as well as discussion and analysis on the issues raised in the Letter of Enquiry. In accordance with the requirements of the Letter of Enquiry, replies to relevant issues are as follows: I. In relation to Assets Impairment with Significant Amount According to the annual report, the Company accrued significant asset impairment of RMB5.886 billion at the end of the reporting period. To this, please supplement and explain each of the following items: 1. In relation to aggregate impairment amount of RMB3.818 billion for the 10 asset groups, including Huaneng Yushe Power Generation Co.,
    [Show full text]
  • The Economics of Wind Power in China and Policy Implications
    Energies 2015, 8, 1529-1546; doi:10.3390/en8021529 OPEN ACCESS energies ISSN 1996-1073 www.mdpi.com/journal/energies Article The Economics of Wind Power in China and Policy Implications Zifa Liu 1, Wenhua Zhang 2,†, Changhong Zhao 2,† and Jiahai Yuan 2,* 1 School of Electrical & Electronic Engineering, North China Electric Power University, Chang Ping District, Beijing 102206, China; E-Mail: [email protected] 2 School of Economics and Management, North China Electric Power University, Chang Ping District, Beijing 102206, China; E-Mails: [email protected] (W.Z.); [email protected] (C.Z.) † These authors contributed equally to this work. * Author to whom correspondence should be addressed; E-Mail: [email protected]; Tel./Fax: +86-10-6177-3091. Academic Editor: Erik Gawel Received: 6 December 2014 / Accepted: 4 February 2015 / Published: 17 February 2015 Abstract: In 2009, the implementation of feed-in tariff (FIT) and attractive public subsidies for onshore wind farms aroused great investment enthusiasm and spurred remarkable development of wind power in China. Meanwhile, rapid learning-by-doing has significantly cut down the cost of wind turbines and the capital cost of wind farms as well. Therefore, it is the right time to examine the appropriateness of the existing FIT policy for wind power in China. In this paper, we employ the analytical framework for levelized cost of electricity (LCOE) to model the generation cost of wind power. Results show that the existing FIT policy is attractive to investors, but serious curtailment and turbine quality issues could make wind power unprofitable. Meanwhile, rapid substantial decreases in the cost of wind power have made it competitive to coal power in 2013, implying that it is possible and necessary to reform the FIT policy for new wind farms.
    [Show full text]
  • Decarbonizing China's Power System with Wind Power
    January 2015 Decarbonizing China’s power system with wind power: the past and the future OIES PAPER: EL 11 Xin Li The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies or any of its members. Copyright © 2015 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-78467-019-1 i Abstract Wind power in China has experienced significant growth since the beginning of this century. Total installed capacity has increased almost 300 fold – from 346 MW in 2000 to 91,413 MW in 2013. This rapid development has had two major drivers: • First, the excellent wind power resource in China, especially in the north of the country, and the increasing competitiveness of wind generation worldwide. • Second, favourable government policies such as: mandatory targets for major power generators in relation to renewable energy; the decentralization of plant approval rights; and feed-in tariffs for wind generation. Along with the development of domestic wind turbine manufacturing capacity, these factors have stimulated the growth of wind power over the past 10 years or so. However, this rapid development has itself created new challenges. In particular, wind power has not been fully integrated into the electricity system as a whole, as the growth of wind generation capacity has not been matched by a corresponding growth in transmission capacity.
    [Show full text]
  • Detailed Appraisal of the Offshore Wind Industry in China
    1 Detailed appraisal of the offshore wind industry in China Working with: The Carbon Trust wrote this report based on an impartial analysis of primary and secondary sources. The Carbon Trust’s mission is to accelerate the move to a sustainable, low carbon economy. It is a world leading expert on carbon reduction and clean technology. As a not-for-dividend group, it advises governments and leading companies around the world, reinvesting profits into its low carbon mission. The British Embassy in Beijing funded this report. The Embassy is the main British diplomatic mission in China and is responsible for all aspects of the UK’s bilateral relationship with China. Under Ambassador Sebastian Wood's leadership, the Embassy promotes UK interests through a strong, effective relationship with China, covering a diverse range of issues, from bolstering global security to increasing mutual economic prosperity, from establishing stronger people-to-people ties to supporting British nationals in China. Chinese Wind Energy Association (CWEA) was founded in 1981 as a non-profit social entity, registered with the Ministry of Civil Affairs of the People’s Republic of China. CWEA aims to promote the advancement of China’s wind energy technologies, drive the development of China’s wind energy industry and enhance the public awareness of new energy. It helps promote international academic and technical cooperation; provide a bridge between the government and institutions; establish good relationships with domestic and overseas wind societies and cooperate with them; communicate with scientists and engineers closely. CECEP Wind-Power Corporation develops and operates wind energy projects. The company was formerly known as China Energy Conservation Windpower Investment Company Limited.
    [Show full text]
  • Harvest Funds (Hong Kong) Etf (An Umbrella Unit Trust Established in Hong Kong)
    HARVEST FUNDS (HONG KONG) ETF (AN UMBRELLA UNIT TRUST ESTABLISHED IN HONG KONG) HARVEST MSCI CHINA A INDEX ETF (A SUB-FUND OF THE HARVEST FUNDS (HONG KONG) ETF) SEMI-ANNUAL REPORT 1ST JANUARY 2016 TO 30TH JUNE 2016 www.harvestglobal.com.hk HARVEST MSCI CHINA A INDEX ETF (A SUB-FUND OF THE HARVEST FUNDS (HONG KONG) ETF) CONTENTS PAGE Report of the Manager to the Unitholders 1 - 2 Statement of Financial Position (Unaudited) 3 Statement of Comprehensive Income (Unaudited) 4 Statement of Changes in Net Assets Attributable to Unitholders (Unaudited) 5 Statement of Cash Flows (Unaudited) 6 Investment Portfolio (Unaudited) 7 – 29 Statement of Movements in Investment Portfolio (Unaudited) 30 – 75 Performance Record (Unaudited) 76 Underlying Index Constituent Stocks Disclosure (Unaudited) 77 Report on Investment Overweight (Unaudited) 78 Management and Administration 79 - 81 RESTRICTED HARVEST MSCI CHINA A INDEX ETF (A SUB-FUND OF THE HARVEST FUNDS (HONG KONG) ETF) REPORT OF THE MANAGER TO THE UNITHOLDERS Fund Performance A summary of the performance of the Sub-Fund1 is given below (as at 30 June 2016): Harvest MSCI China A Index ETF 1H-2016 (without dividend reinvested) MSCI China A Index2 -17.61% Harvest MSCI China A Index ETF NAV-to-NAV3 (RMB Counter) -17.60% Harvest MSCI China A Index ETF Market-to-Market4 (RMB Counter) -19.54% Harvest MSCI China A Index ETF NAV-to-NAV3 (HKD Counter) -18.51% Harvest MSCI China A Index ETF Market-to-Market4 (HKD Counter) -20.82% Source: Harvest Global Investments Limited, Bloomberg. 1 Past performance figures shown are not indicative of the future performance of the Sub-Fund.
    [Show full text]
  • The Role of Feed-In Tariff in the Curtailment of Wind Power in China
    Energy Economics 86 (2020) 104661 Contents lists available at ScienceDirect Energy Economics journal homepage: www.elsevier.com/locate/eneeco The role of feed-in tariff in the curtailment of wind power in China Fang Xia a,XiLub, Feng Song c,⁎ a Research Institute for Global Value Chains, University of International Business and Economics, China b School of Environment and State Key Joint Laboratory of Environment Simulation and Pollution Control, Tsinghua University, China c Department of Energy Economics, School of Applied Economics, Renmin University of China article info abstract Article history: While China's wind power initiative has experienced rapid growth, serious curtailment issues persist. Though Received 16 October 2018 some studies have investigated this matter, we explain this phenomenon from the novel perspective of excess Received in revised form 19 August 2019 capacity. We first set up a theoretical model to explore the mechanism behind excess investment and find that Accepted 1 December 2019 the ‘sticky’ feed-in tariff (FIT) and declining costs of wind power generate high mark-up for wind power inves- Available online 7 January 2020 tors, leading to a higher probability of excessive investment. The theoretical prediction is empirically tested with a probit and tobit model using provincial-level data between 2009 and 2016. The estimation results show Keywords: – Wind curtailment that a 0.1 yuan increase in the mark-up leads to a 2% 3% increase in the rate of curtailed wind power. Based Excess capacity on the estimation results, we simulate several scenarios to assess quantitatively how an improved policy design Feed-in tariff could have alleviated the curtailment issue.
    [Show full text]
  • Exclusion List
    Exclusion list ROBECO INSTITUTIONAL ASSET MANAGEMENT 1 Sustainability Inside Excluded companies: 61 Rimbunan Sawit Bhd 15 Bots Inc 62 Riverview Rubber Estates BHD 16 Bright Packaging Industry Bhd Controversial behavior 63 Salim Ivomas Pratama Tbk PT 17 Brilliant Circle Holdings International Ltd 1 G4S International Finance PLC 64 Sarawak Oil Palms Bhd 18 British American Tobacco Bangladesh Co Ltd 2 G4S PLC 65 Sarawak Plantation Bhd 19 British American Tobacco Chile Operaciones SA 3 Korea Electric Power Corp 66 Scope Industries Bhd 20 British American Tobacco Holdings The Netherlands BV 4 Oil & Natural Gas Corp Ltd1 67 Sin Heng Chan Malaya Bhd 21 British American Tobacco Kenya PLC 5 ONGC Nile Ganga BV 68 Sinar Mas Agro Resources & Technology Tbk PT 22 British American Tobacco Malaysia Bhd 6 ONGC Videsh Ltd 69 Socfin 23 British American Tobacco PLC 7 Vale Indonesia Tbk PT 70 Socfinasia SA 24 British American Tobacco Uganda Ltd 8 Vale SA2 71 Societe Camerounaise de Palmeraies 25 British American Tobacco Zambia PLC 72 Societe des Caoutchoucs de Grand-Bereby 26 British American Tobacco Zimbabwe Holdings Ltd Palm oil 73 SSMS Plantation Holdings Pte Ltd 27 Bulgartabac Holding AD 1 A Brown Co Inc 74 Sterling Plantations Ltd 28 Carreras Ltd/Jamaica 2 Agalawatte Plantations PLC 75 Subur Tiasa Holdings Bhd 29 Casey’s General Stores Inc 3 Anglo-Eastern Plantations PLC 76 Sungei Bagan Rubber Co Malaya Bhd 30 Cat Loi JSC 4 Astra Agro Lestari Tbk PT 77 Sunshine Holdings PLC 31 Ceylon Tobacco Co PLC 5 Astral Asia Bhd 78 Ta Ann Holdings Bhd 32 Champion
    [Show full text]