[The lithium carbonate project of Dazhong Mining has started construction] Hunan Dazhonghe Lithium Mine Co., Ltd. recently held the groundbreaking ceremony for the new process lithium carbonate project for harmless comprehensive utilization of lithium slag. The project is expected to produce 80000 tons of battery grade lithium carbonate annually and is scheduled to be completed in 2028. On the same day, its parent company, Dazhong Mining, announced that its wholly-owned subsidiary, Chengtai Mining Investment Co., Ltd. in Chenzhou City, has obtained a mining license for the Jijiaoshan Lithium Mine in Hunan Province issued by the Ministry of Natural Resources, which is valid for 30 years. This mine is the first large-scale lithium mining license obtained by Dazhong Mining. The lithium mining resources reviewed and filed by the Ministry of Natural Resources have reached 489.872 million tons, equivalent to approximately 3.2443 million tons of lithium carbonate equivalent. The open-pit mining scale is 20 million tons per year. Based on industry experience and company testing, mining 20 million tons of raw ore annually can support the production of approximately 80000 tons of lithium carbonate, providing stable resource support for new lithium carbonate projects. Editor/Cheng Liting

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• 2025.12.09 10:29
• [Chinese banks assist in landing 15GW clean energy project]
• In the global energy transition wave, Saudi Arabia's actions are attracting the attention of the world. Recently, Saudi energy giant ACWA Power announced that it has secured a massive financing of up to $5.95 billion for its 15GW clean energy projects. This funding will be used to support two wind power projects and five photovoltaic projects located within Saudi Arabia, demonstrating the clear strategy of this oil kingdom to extend its energy dominance through new energy. This financing can be regarded as a "national team global tour", attracting 29 financial institutions from the Gulf region, Europe, China, Japan and other places to participate. Among them, several Chinese financial institutions, including Bank of China, Industrial and Commercial Bank of China, China Construction Bank, and China Minsheng Bank, have provided strong support. The loan term is as long as 27 years, reflecting the confidence of international capital in the long-term prospects of Saudi Arabia's new energy development. The equity structure of the project is jointly held by ACWA Power, Badeel, a wholly-owned subsidiary of Saudi sovereign fund PIF, and Saudi Aramco Power Company. This national level risk sharing model greatly enhances market confidence. All projects are expected to be fully operational from the second half of 2027 to the first half of 2028. Saudi Arabia's rapid execution capability is in line with its strategy of seizing the future "second pot of gold" - by building a globally leading low-cost green power base, laying the foundation for future industries such as hydrogen energy and green metallurgy, and reshaping its role in the global energy landscape. Editor/Yang Beihua

• 2025.12.09 10:22
• [Chinese energy storage companies have won consecutive large orders in Europe]
• Chinese energy storage companies have recently made significant breakthroughs in the European market. With the cumulative installed capacity of energy storage in Europe expected to exceed the 100GW mark by November 2025, the market is entering a critical stage of large-scale development. In this context, China Automotive New Energy has signed a 2GWh energy storage strategic cooperation agreement with Belgian energy company AVESTA, while Kubo Energy has also reached a 1GWh strategic cooperation agreement with Romania's VoltLink Energy. As a joint venture between multiple Chinese state-owned enterprises in the field of power batteries, China Automotive New Energy has obtained over 14GWh of energy storage orders worldwide by 2025. Kubo Energy continues to focus on the European market, and this cooperation aims to build an energy service ecosystem that covers the entire chain. The signing of these orders reflects a structural change in the European energy storage market from household use to large-scale project dominance, driven by a significant improvement in energy storage economics. From 2022 to 2025, the cost of European LFP energy storage systems has decreased by about 37%, and the reform of the electricity market has created a diversified revenue model of "energy arbitrage+ancillary services" for energy storage. Despite Europe's ambitious goal of 500-780 GWh by 2030, the path to achieving it still faces challenges. The lengthy approval process and fragmented internal market may constrain the pace of development. The strong entry of Chinese energy storage companies not only seizes the opportunity of market explosion, but also injects key technological products and solutions into Europe's energy transformation. Editor/Yang Beihua