Will Arera get electrified with the giant China Three Gorges?
Arera (Authority for Energy and Grids) will meet with representatives of China Three Gorges. The numbers and projects of the Chinese renewable giant, the revelations of the news agency Energia Oltre and the questions still unanswered
The Chinese knock on Arera, the Regulatory Authority for energy, networks and the environment led by Stefano Besseghini. According to the Energy Oltre agency , the president and the entire board of the authority will meet representatives of the Chinese investors of the China Three Gorges company in Milan this week. Let's go step by step.
THE CHINA THREE GORGES COMPANY
Let's take a step back immediately. Founded in September 1993, China Three Gorges Project Development Corporation, renamed in 2009 China Three Gorges Corporation is a Chinese state-owned power company specializing in the development of renewable energy projects from wind, solar and hydroelectric power in China and abroad. With a workforce of 35,000 employees, and total assets of 817.4 billion yuan, the group is among the world's clean energy leaders, with 89 ongoing international contracts and investment projects in Africa, Asia, Europe and America. At the end of 2019, the installed capacity is 132 GW.
Among others, the company is responsible for the construction and operation of the Three Gorges Project (22.5 GW) and four large-scale hydroelectric power plants in Xiluodu (13.86 GW), Xiangjiaba (6.4 GW), Wudongde ( 10.2 GW) and Baihetan (16 GW) located in the upper reaches of the Yangtze River.
TOWARDS THE IPO?
The company, for 2021, would also be thinking of an initial public offering, the largest for the current year for the Country of the Dragon, as revealed by the South China Morgin Post . China Three Gorges Corporation plans to sell up to 8.57 billion shares, according to a prospectus filed on the Shanghai Stock Exchange.
THE MEETING WITH ARERA
Why will a Chinese state-owned company of this caliber meet Arera?
There is no official information on the issue, but the talks could focus on possible Chinese investments in renewables in Italy.
THE DOUBTS OF TIME
But if we are talking about investments, why does the meeting not involve the government?
"It is not clear, however, in what capacity the Arera, which is an independent body and therefore should only have regulatory tasks, meets a company with a strong governmental imprint and in any case disliked by US allies at least until last year", asks the newspaper Il Tempo based on the launch of the Energia Oltre press agency. “Etiquette would like the government, in its political role, to meet a Chinese state company”, explains the daily directed by Franco Bechis.
But not only. To date there is no trace of the appointment, despite its relevance. “The appointment – writes Energia Oltre – has diplomatic and national security implications”.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/arera-si-elettrizzera-con-il-colosso-china-three-gorges/ on Mon, 24 May 2021 09:43:04 +0000.