China overtook the United States last year as the world’s largest Energy Consumer.
As both China and India guzzle up oil, puff up demand in coal and boost renewable energy resources, the International Energy Outlook, projects that China and India will consume 31 percent of the world’s energy by 2035, up from 21 percent in 2008. As economic growth continues, global energy demand will increase 53 percent from 2008 through 2035, with China and India accounting for half of the growth, the Outlook further projected.
In light on the above huge energy consumption patterns three major headlines covering various energy resources – coal, wind and solar have made news worldwide –
China, India buy up Australian coal field
Like Mongolian coal, both China and India have always had a good appetite for Aussie coal. According to latest reports, India and China have snapped up almost all of Australia’s next big coal field, the northern Galilee basin, three years before production even begins.
India and China are predominately coal consuming nations with almost 80 percent of the their energy requirements deemed from the black fossil. The race to secure coal has already resulted in a wave of multi billion dollar mergers and acquisitions activity globally, much of it driven by increasing consumption and rising prices in emerging economic giants China and India.
Exports of iron ore, a key steelmaking ingredient, are seen at 449 million tonnes — 40 percent of global trade — in fiscal 2012, a 3 percent increase from an earlier projection and a 10 percent rise on the previous year, as Japanese and Chinese steel output expands rapidly.
Revenue from iron ore exports is seen rising even faster, by 26 percent to A$68 billion ($69 billion), as prices are declining only slowly from their highs hit in early 2011, the Bureau of Resources and Energy Economics said in a quarterly
report on Tuesday.
“Chinese steel consumption is rising and exports from countries like India are reducing because they’re using a lot more internally. So the pricing environment looks relatively positive going forward,” said James Wilson, analyst at RBS Morgans.
Indian wind energy giant Suzlon targets Chinese offshore Wind market
Pushing against environmental degradation from fossil fuel energy and taking advantage of the sops offered for renewable energy by Beijing, Indian wind energy manufacturer Suzlon has decided to ruffle up expenses towards a manufacturing base in China. The company which until now produced wind turbine parts in China and exported them to India for assembly will now manufacture and assemble the wind turbines for global export from China.
Indosolar in talks with China`s GCL for US$2 bln solar deal
Solar photo-voltaic (PV) cellmaker Indosolar Ltd is in talks with Chinese polysilicon maker GCL-Poly Energy Holdings to tie up a new 4-year solar wafer supply deal, which could be worth up to US$2 billion, its chief executive told Reuters on Wednesday.
Indosolar already has a wafer supply contract with GCL worth 27 billion rupees (US$565 million), which was supposed to run till 2014, but with extensive capacity addition planned, Indosolar is planning to close that contract.