Latest news with #SPIC
The Star
16 hours ago
- Business
- The Star
Chinese energy firms say Brazil must clarify rules or face loss of investments
Senior Chinese energy executives have called on Brazil to fix its regulatory framework and provide long-term predictability, warning that delays could hamper billions of dollars in green investment. The requests for transparency came on Thursday during a panel discussion at the Energy Summit in Rio de Janeiro, where representatives from the State Power Investment Corporation (SPIC) and China Energy Engineering Corporation (CEEC) said that Brazil risked falling behind unless it acted quickly to clarify rules for energy storage and long-term concessions. China has become one of Brazil's biggest energy investors, pouring US$1.73 billion into the sector in 2023, a 33 per cent rise from the previous year, with roughly 72 per cent of confirmed projects focusing on wind, solar and other clean technologies, according to the Brazil-China Business Council. Since 2007, Chinese firms have invested a total of US$73.3 billion in Brazil generally, making it the fourth-largest destination globally for Chinese capital. 'Today we have the technology, the capital and the interest, but we lack a stable and predictable framework for energy storage in Brazil,' said Marcelo Taulois, deputy chief executive and chief development officer of CEEC Brazil. He warned that delays were putting billions of dollars of investment at risk. Taulois said that a long-awaited framework for battery storage, announced in December, had been put on hold despite strong interest from more than 60 developers. 'We were expecting it to be implemented by May, but it stopped,' he said. Adriana Waltrick, chief executive of SPIC Brasil, said that long-term planning was vital for both nations' roles in the global energy transition. 'China and Brazil are two of the four countries that will define this shift,' she said, noting that in 2024, China invested roughly 10 per cent of its gross domestic product in the energy transition sector, compared with roughly 1 per cent by Brazil. 'But China built an ecosystem where planning and execution go hand in hand. Brazil can do the same,' Waltrick said, adding that advances in digital technology – from artificial intelligence for hydro management to smart energy grids – could help Brazil make better use of its abundant resources. She said that Brazil had the expertise to do this, but only if regulations evolved with the times. Jorge Arbache, a University of Brasília economist, noted that vulnerability could become a catalyst for growth if policies were clear and coordinated. 'And China, with its ability to articulate, coordinate and implement policies, has succeeded through very well-defined plans and clear targets across the central government, provinces, state-owned enterprises and private firms in accelerating its path towards energy independence. 'This is something we can mimic here,' he added. As evidence that the market responded when rules were defined, panellists cited rising confirmation rates for announced Chinese energy-related investments in Brazil, from 27 per cent in 2022 to 88 per cent in 2023. Yet both Taulois and Waltrick said the trend could stall if Brazil failed to provide a robust framework for storage and long-term concessions. 'The sentiment right now is one of urgency,' Taulois said. 'The market and the technology are ready. What we're missing is a sign from the government that Brazil is serious about making this transition happen.' Waltrick said Brazil had a unique opportunity: 'We have the resources, we have the technology, and we have strong partners like China ready to build. But the bridge between planning and policy has to be built now – or this moment could slip away.' -- SOUTH CHINA MORNING POST
South China Morning Post
2 days ago
- Business
- South China Morning Post
Chinese energy firms say Brazil must clarify regulations or face loss of investments
Senior Chinese energy executives have called on Brazil to fix its regulatory framework and provide long-term predictability, warning that delays could hamper billions of dollars in green investment. The requests for transparency came on Thursday during a panel discussion at the Energy Summit in Rio de Janeiro, where representatives from the State Power Investment Corporation (SPIC) and China Energy Engineering Corporation (CEEC) said that Brazil risked falling behind unless it acted quickly to clarify rules for energy storage and long-term concessions. China has become one of Brazil's biggest energy investors, pouring US$1.73 billion into the sector in 2023, a 33 per cent rise from the previous year, with roughly 72 per cent of confirmed projects focusing on wind, solar and other clean technologies, according to the Brazil-China Business Council. Since 2007, Chinese firms have invested a total of US$73.3 billion in Brazil generally, making it the fourth-largest destination globally for Chinese capital. 'Today we have the technology, the capital and the interest, but we lack a stable and predictable framework for energy storage in Brazil,' said Marcelo Taulois, deputy chief executive and chief development officer of CEEC Brazil. He warned that delays were putting billions of dollars of investment at risk. Taulois said that a long-awaited framework for battery storage, announced in December, had been put on hold despite strong interest from more than 60 developers.
The Print
06-06-2025
- Politics
- The Print
J-K LG, Railway Minister undertake rail journey from Katra to Srinagar
Katra (J-K), Jun 6 (PTI) Jammu and Kashmir Lt Governor Manoj Sinha and Railway Minister Ashwini Vaishnaw undertook a ride in Self-Propelled Inspection Car (SPIC) from Katra in Reasi district to Nowgam Station in Srinagar on Friday, an official said. Sinha and Vaishnaw took the rail ride after Prime Minister Narendra Modi inaugurated the much-awaited Udhampur-Srinagar-Baramulla Railway Link (USBRL) connecting Kashmir valley with the rest of the country.
Arab Times
12-05-2025
- Business
- Arab Times
Kuwait Ramps Up Green Energy Drive with Smart Meters
KUWAIT CITY, May 12: Kuwait's Ministry of Electricity, Water and Renewable Energy has successfully completed the installation of smart electricity meters in approximately 95% of schools and mosques across the country, according to informed sources within the ministry. The remaining installations are expected to be finalized soon. Sources explained that the smart meters enable the ministry to remotely control and cut off power supply to schools after class hours and to mosques following prayer times—an initiative aimed at curbing unnecessary electricity consumption. The move reflects the commitment of Minister Dr. Subaih Al-Mukhaizeem and senior officials to promoting energy efficiency, particularly during peak demand periods. In a separate development, Undersecretary Dr. Adel Al-Zamel took part in the opening session of the Kuwait Sustainable Energy Conference, held under the theme 'High-Level Dialogue on Regional Policies: Collaborative Pathways for Renewable Energy Solutions and Gateways for Hydrogen Trade.' The session highlighted Kuwait's national priorities in renewable energy development and hydrogen utilization. Attendees reviewed the recently signed agreement with China's State Power Investment Corporation (SPIC) to advance the Shagaya and Abdaliya renewable energy projects, which aim to generate over 3,000 megawatts of electricity. Dr. Al-Zamel stated that Kuwait's renewable energy capacity is projected to reach 4,800 megawatts by 2029, leveraging various technologies. He emphasized that the region's transition to clean energy must support both economic growth and national interests. He identified green and blue hydrogen development as key opportunities, pointing to the region's abundant renewable and hydrocarbon resources as strategic assets in the energy transformation process.
Hans India
03-05-2025
- General
- Hans India
SCR GM inspects BZA Railway Station
Vijayawada: General Manager, South Central Railway Arun Kumar Jain conducted a detailed inspection of Vijayawada Railway Station on Friday. He was accompanied by Narendra A Patil, Divisional Railway Manager, Vijayawada Division, and other senior division officials during the inspection. Arun Kumar Jain commenced the inspection from Platform No 6 of Vijayawada Railway Station. He inspected passenger amenities, traffic facilities, safety aspects, foot over bridges, and the functioning of water troughs on the Platform No 6. He inspected the crew lobby and interacted with the loco pilots. He also interacted with staff and enquired regarding the issues, bottlenecks usually encountered during their day-to-day work, and advised officials to resolve the issues. He also inspected the passenger amenities on Platform No 1, and Train No 22851 Santragachi–Mangaluru, checked the Onboard Housekeeping Service (OBHS), cleanliness and rake maintenance etc., and directed the officials to attend to the watering and hygiene complaints promptly to improve the passenger satisfaction and meet their expectations. Later, the General Manager proceeded to Gunadala Railway Station by self-propelled inspection car (SPIC), conducted rear window inspection of track safety aspects. He thoroughly inspected the ongoing Amrit Bharat Station (ABSS) redevelopment works at Gunadala Railway Station with a cost of Rs 24.37 crore which includes a 12-metre foot over bridge, platform surface improvements, additional Cover Over Platform, provision of 2 lifts, waiting hall, improvements to façade building & circulating area which are in progress where he was detailed on the upcoming facilities of several passenger amenities.
