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Its announcement indicates that project funding adopts a diversified approach: approximately 20% from self-raised capital, about 43% from bank loans, and roughly 37% from other self-raised sources. The first-phase project requires a total investment of RMB 936 million. (Source: Sci-Tech Innovation Board Daily) 07 Centralized Cooling Using Water from Abandoned Coal Mines Launched in Xuzhou According to recent news from Xukuang Group, its subsidiary Xukuang Thermal Energy Company has pioneered floor-radiant cooling technology—pumping water from abandoned coal mines to ground-level heat exchange stations, then using underfloor heating pipes to cool thousands of households. This initiative has established China’s first centralized cooling system powered by water from abandoned mines. Xukuang Group’s former Woniu Mountain Coal Mine was once a key mine in East China. After closure, the accumulated water in its shafts and tunnels has maintained a stable temperature of around 19°C year-round—acting as a natural “coolant.” Compared with conventional air-conditioning systems, this system reduces energy consumption by over 50%, avoids the urban heat island effect caused by outdoor AC units, and—based on cooling load calculations for the current Rongsheng Phase V residential community—cuts annual CO₂ emissions by approximately 50 tons. It truly transforms a “black legacy” into a “green cold source.” (Source: Xukuang Group) 08 Largest Single-Site Polyvinyl Alcohol (PVA) Production Base in China Completed On August 3, Sinopec’s Chongqing Chuangwei Chemical Co., Ltd. officially commenced feedstock operation of its new specialty polyvinyl alcohol (PVA) plant with an annual capacity of 50,000 tons. Upon full commissioning, the facility becomes the world’s largest single-site high-end PVA production base, raising the site’s total annual PVA output to 210,000 tons. PVA is widely known as the “universal auxiliary material” of fine chemical engineering and serves as an indispensable foundational raw material for emerging industries—including new energy, optoelectronic displays, premium packaging, and precision manufacturing. Its commissioning will significantly enhance supply security for upstream and downstream industrial chains. (Source: Cailian News) 09 TotalEnergies Concludes Renewable Energy Asset Transactions with Shell and KKR On August 3, TotalEnergies announced it had signed an agreement with Shell to acquire Shell’s entire portfolio of onshore renewable energy assets in Europe. This portfolio includes 500 MW of solar and wind assets already operational or under construction (primarily located in Italy and the Netherlands), plus a development pipeline totaling 3.5 GW of solar, wind, and battery storage projects (located in Italy, the UK, and Spain). The transaction is expected to close by year-end. Separately, TotalEnergies announced it had signed an agreement with an insurance account managed by KKR to sell a 50% stake in a 1.2-GW European onshore solar and wind asset portfolio. The enterprise value of this portfolio is €1.8 billion. The transaction covers assets located in Germany, Spain, France, and Poland. Electricity generated by these assets is either already contracted to third-party off-takers or will be marketed by TotalEnergies. Following completion, TotalEnergies will retain a 50% equity interest and continue managing operations. (Source: Jiemian News) 10 Analysts Lower EU Carbon Price Forecasts for 2026 and 2027 According to Reuters’ July 31 report, analysts have revised downward their forecasts for EU carbon allowance prices in 2026 and 2027 following the European Commission’s proposal of reforms aimed at alleviating carbon price pressure on industry. A survey of nine analysts estimates the average EU Emissions Trading System (EU ETS) allowance price will be €79.97 per tonne in 2026 and €89.13 per tonne in 2027—down from prior April forecasts of €80.61 and €93.29 per tonne, respectively.

Carbon News | Breaking! Are Data Center Power Supplies Under Siege? U.S. Launches Section 337 Investigation into Vertical Power Delivery!

Hurricane Isaias made landfall along the southeastern U.S. coast, bringing destructive winds and torrential rain. In the early hours of October 10, power outages affected more than 726,000 customers across Florida and Alabama. Category 2 Hurricane Isaias struck near Destin, Florida, in the state’s northwestern region on October 9, with maximum sustained winds reaching 165 km/h—the first hurricane of the 2020 Atlantic hurricane season. Florida Governor Ron DeSantis urged residents to avoid going outdoors that day; most flights were canceled at multiple airports in and around Destin. According to a Cailian News report dated October 11, Isaias has since weakened into a post-tropical cyclone. Approximately 670,000 customers remain without electricity across Florida, Alabama, Georgia, and Mississippi. (Source: Cailian News) 07 Musk Announces: SpaceX AI Renamed to SpaceX SI On October 11, local time, Tesla founder and CEO Elon Musk posted a screenshot showing that the official account for “SpaceX AI” had been renamed to “SpaceX Super Intelligence” (@SpaceXSI). Earlier, on September 29, U.S. President Donald Trump formally signed an executive order directing all federal departments and agencies to replace the term “artificial intelligence” (AI) with “super intelligence” (SI). In the executive order, Trump stated: “The extraordinary technologies pioneered by American innovators far surpass the original conception of the term ‘artificial intelligence.’ Today’s cutting-edge systems do far more than mimic or automate discrete aspects of human intelligence. They continuously amplify human creativity, unlock entirely new forms of creativity, and empower Americans to achieve what was previously impossible—in science, medicine, and virtually every other human endeavor. As these capabilities advance further, they increasingly represent not merely artificial intelligence—but a new era of super intelligence.” (Source: Zhongxin Jingwei) 08 TotalEnergies and KKR Expand Collaboration, Adding 700 MW of Renewable Energy Assets On October 12, French energy major TotalEnergies announced it had signed an agreement with global investment firm KKR to add $1.2 billion worth of renewable energy assets—totaling 700 MW—to their 50/50 joint venture. The joint venture now holds 1.4 GW of assets in the United States. This transaction involves three large-scale solar project portfolios located in Texas and Ohio, scheduled to enter commercial operation in Q1 2027. Electricity generated by these projects has either been pre-sold to third parties or will be marketed by TotalEnergies. 09 Riyadh International Oil Conference Opens Amid Withdrawals by Major Energy Firms Two international oil conferences held in Riyadh, Saudi Arabia’s capital, opened as scheduled on October 11. However, numerous major international energy companies withdrew from attendance after Yemen’s Houthi armed group launched four separate attacks on King Khalid International Airport in Riyadh over the past week. The five-day World Petroleum Council Energy Conference (also known as the World Petroleum Congress) began on October 11 at a convention center located approximately 10 kilometers from King Khalid International Airport. British Petroleum (BP) issued a statement on the same day, citing “travel disruptions” as the reason its representatives could not attend the event.

TotalEnergies expands US venture with KKR with 700 MW portfolio

Oct 11, 2026

TotalEnergies expands its US joint venture with KKR by adding a $1.2 billion portfolio of three utility-scale solar assets totaling 700 MW, expected to reach commercial operation by Q1 2027.

reuters

TotalEnergies expands US venture with KKR with 700 MW portfolio

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