European Energy has completed the sale of its Jonava renewable energy project in Lithuania to Energix – Renewable Energies. The massive hybrid development features a planned capacity of 470 MW, integrating 140 MW of onshore wind, 330 MWp of solar PV, and 320 MWh of energy storage. Construction is slated to begin shortly with full commercial operations targeted for 2027. This divestment highlights the company’s "develop-and-flip" model, successfully de-risking large-scale, grid-stable assets to recycle capital into its global pipeline of wind and solar projects.

In late March 2026, the Philippine DOE mandated the expedited grid integration of 22 renewable energy projects (1,471 MW) by April 2026 to mitigate fossil fuel price volatility stemming from Middle East conflicts. This emergency deployment is heavily concentrated in solar PV, with 12 projects accounting for a dominant 1,284 MW of the total capacity.

[SMM Aluminum Express News] PT PLN (Persero) plans to develop 1.4 GW of hybrid power plants combining mine-mouth coal-fired steam power plants (PLTU) with solar PV (PLTS) and battery energy storage systems (BESS). One unit will be a 200 MW hybrid PLTU in Kalimantan, with Commercial Operation Date (COD) targeted for 2032. Despite Presidential Regulation No. 112/2022 banning new PLTU development (Perpres 112/2022), PLN asserts compliance via Article 3 Paragraph 4, which provides exemptions for certain cases, including strategic needs like mine-mouth plants for energy security or industrial support (often interpreted for captive or hybrid setups in remote areas).

◼ At the beginning of 2026, Musk’s SpaceX plan for 100 GW of annual space PV capacity ignited the A-share market, with multiple concept stocks rising by more than 30 in a single month. At the same time, however, earnings previews from leading PV companies generally showed losses for 2025, and industry fundamentals remained in a deep winter. Behind the stark divergence between the speculative frenzy around the Musk-SpaceX concept and the earnings trough, is the market overly expecting a “second growth curve,” or is this a genuine signal of industrial transformation? ◼ As the global PV industry moves from rapid expansion into a new stage of rational development, its value has gone beyond that of clean energy alone: Against the backdrop of explosive growth in AI computing power driving massive electricity demand, compounded by energy security anxiety triggered by geopolitical conflict in the Middle East, developing PV may become a core strategic choice for countries to achieve their “dual-carbon” goals, build autonomous and controllable energy systems, and reduce electricity costs for end-users. ◼ Since the escalation of the U.S.-Iran conflict at the end of February, the world’s four major benchmark crude oil prices have entered a rapid upward trajectory. Before the outbreak of the conflict, oil prices had remained broadly stable; however, starting on March 2, as the fighting expanded and spread to the Persian Gulf, oil prices immediately entered a sharp uptrend. Note: Shanghai crude oil prices are converted based on the settlement-date exchange rate of 1:0.15. Source: Public information, SMM. ◼ Although the impact borne by different regions varies due to differences in energy mix, geopolitical location, and policy response, the surge in imported crude oil costs driving a broad rise in energy prices has become a common challenge facing all countries. Europe is a case in point. Although Europe’s direct dependence on Middle Eastern crude oil was not high, at only about 5 according to data from energy market intelligence firm Kpler, it remained highly dependent on the region for refined products such as diesel and aviation kerosene, as well as liquefied natural gas. Disruptions in the Strait of Hormuz caused by the conflict directly pushed up Europe’s terminal energy prices—fuel prices at gas stations across the region surged, and natural gas prices broke above EUR 60 per megawatt hour on the 9th, reaching a new high since 2022. The continued rise in energy prices is bound to transmit into broader areas of the economy, increasing overall inflationary pressure and once again underscoring the importance of building secure and controllable energy systems. Accelerating the Clean Transition of the Global Energy Mix, the PV Industry Advances Toward High-Quality Development ◼ The International Energy Agency (IEA) forecasts that, despite economic pressure, global electricity demand momentum remains strong in 2025, with growth rates in 2025 and 2026 expected to be 3.3% and 3.7%, respectively. Data from 2020 to 2025 showed that the global power market followed a trajectory of continued overall growth alongside structural transition toward cleaner energy , with the share of renewable energy sources such as solar rising significantly, although fossil fuels still accounted for the dominant share. ◼ According to the IEA’s Net Zero Emissions Scenario, solar power’s share in the energy mix is expected to rise from less than 2% at present to 12% in 2035 and 28% in 2050. This means PV installations are still far from reaching their ceiling, with substantial room for future growth. ◼ The past five years marked a critical period in which the global PV market shifted from rapid expansion toward rational development. The IEA forecasts that total global new PV installations over the next five years will reach about 3.68 TW, accounting for nearly 80% of new renewable energy additions over the same period, and are expected to become the world’s largest renewable energy source by the end of 2030. This is mainly due to its widening economic advantages—by 2024, the cost of solar PV power generation had already fallen 41% below the cheapest fossil fuel alternative, and these cost advantages are driving rapid growth in both PV installations and power generation share. Source: IEA, public information, SMM. ◼ As a key carrier of PV installations, especially the backbone of utility-scale power plants, solar panel mounting bracket installations are expected to maintain annual average growth of 5%-6% alongside installation growth. Specifically, to achieve annual average new PV installations of 500-600 GW, corresponding module demand is estimated at about 550-700 GW based on the capacity ratio. Assuming a conventional 1:1 module-to-bracket configuration, the annual average installation scale of brackets required for utility-scale PV plants alone would reach at least 250-300 GW. Source: public information, SMM. Escalating Challenges Reshape the Development Logic of the Global PV Market ◼ The PV industry is undergoing resonating internal and external pressures. Internally, the global economic slowdown has become intertwined with social issues, while the industry itself has entered a rational development stage after rapid expansion, making slower installation growth a certain trend. Externally, global trade frictions continue to intensify, with the US, Europe, and other regions erecting nearly insurmountable cost gaps through barriers such as anti-dumping and countervailing duties as well as local content requirements. Challenge 1: Global Trade Frictions and Escalating Trade Barriers ◼ In recent years, countries have introduced a series of policies to build PV trade barriers and reshape the global competitive landscape of the industry. The US imposed “double anti-” duties of as much as 3,403.96% on PV products from four Southeast Asian countries, South Africa raised module tariffs to 10%, and Brazil increased out-of-quota tariffs sharply from 9.6% to 25% through a quota system. Market access requirements for PV in India and Türkiye have also become increasingly stringent. Meanwhile, new supply chain control rules represented by the EU’s Net-Zero Industry Act (NZIA) have extended trade barriers deeper into the industry chain. By setting red lines on “third-country dependence,” they have established quantitative standards for supply chain restructuring. This series of changes has reshaped the competitive dimensions of the international PV industry and significantly raised the threshold for PV product imports and exports. Source: public information, SMM. Challenge 2: New Dynamics in the PV Market, with Incentive and Restrictive Policies Coexisting Source: public information, SMM. Outside China Enterprises Pursue Multi-Dimensional Breakthroughs Through Internal and External Efforts ◼ The practices of solar panel mounting bracket enterprises in the US, India, and other countries show that the key to coping with policy shifts overseas lies in combining “service-oriented” and “high-value” strategies. First, vertically extending from single-equipment sales to a service ecosystem covering the entire life cycle. Second, deepening horizontally by continuously optimizing business structure and extracting value from higher value-added segments. Solution 1: Launch Dedicated Plans Closely Aligned with Government Policies and Local Demand ◼ The global PV industry has now entered a new stage deeply reshaped by both market forces and policy. The growth logic of enterprises is shifting from the past single dimension of relying on technology iteration and cost declines to multi-dimensional competition closely integrating complex policy environments with localized demand. Against this backdrop, the key to corporate success lies in accurately interpreting policy intentions and launching development plans aligned with both market and policy. Tata Power Renewable Energy Limited (TPREL) precisely aligned with India’s “PM Surya Ghar: Muft Bijli Yojana” and launched the dedicated “solar for every home” plan while continuing to provide customized PV solutions. In Q1 FY2026, it added 220 MW of new rooftop PV installations, surging 416% YoY. TPREL also actively responded to local manufacturing policies by establishing 4.3 GW of solar cell and module capacity, ensuring supply while avoiding import tariffs. Through the synergy of “policy response + local capacity + customized services,” TPREL has effectively translated policy dividends into market competitiveness and steadily consolidated its leading position in India’s PV market. Solution 2: Use Acquisitions as a Link to Integrate Resources and Extend from Single Products to the Entire Industry Chain ◼ Competition in the global PV industry has fully escalated into a contest of entire industry chain system integration capabilities, and enterprises’ growth engines are shifting from past reliance on advantages in a single segment to a new model of providing integrated solutions through resource integration. In 2025, Nextracker used acquisitions as the core to integrate resources across the full chain, successively acquiring foundation engineering firms such as Solar Pile International and Ojjo, module supporting firms such as Origami Solar, and electrical system firms such as Bentek, thereby building a full-chain product matrix spanning structural, electrical, and digital solutions. Its performance continued to surge, with revenue rising from $1.9 billion in FY2023 to $3.4 billion in the trailing twelve months ended September 2025. It ultimately announced its transformation into a comprehensive energy solutions provider by renaming itself Nextpower, targeting revenue of more than $5.6 billion in FY2030. This strategy enabled its successful transformation from a single-product supplier into an entire industry chain service provider, solidifying its leading position in the global market. Solution 3: Optimize Business Structure ◼ Trade protectionism in the current PV market continues to intensify, with various trade barriers being layered on one after another. In response to this challenge, PV enterprises can achieve the dual objectives of “compliant operations” and “market retention” through business structure optimization. To avoid the equity constraints on FEOC under the US OBBB Act, Canadian Solar Inc. initiated a US business restructuring with its controlling shareholder CSIQ: it established two new joint ventures to separately manage PV and energy storage businesses, with its own stake set at 24.9% to precisely meet compliance requirements. At the same time, it transferred out 75.1% equity in three overseas plants supplying the US market, receiving a one-off consideration of 352 million yuan. This move enabled Canadian Solar Inc. to retain earnings from the US market through dividends and rental income. In the first three quarters of 2025, it achieved net profit of 990 million yuan, while large-scale energy storage shipments rose 32% YoY. After the adjustment, it focused on strengthening its advantages in non-US markets and successfully stabilized its global business layout with a compliant structure, providing a typical model for the industry in addressing trade barriers. ◼ For Chinese enterprises, in the face of trade frictions and overseas capacity gaps, they need to break through via three paths—“building plants near core markets, reducing costs and improving efficiency through technological innovation, and coordinating both within and outside the industry chain”— by pursuing localized deployment in Southeast Asia, Mexico, and other regions to avoid frequent trade frictions; promoting standardized production and high-end product R&D to enhance competitiveness; and building a “China + overseas” dual-circulation supply chain to stabilize costs. However, overseas expansion still faces challenges such as land and environmental protection costs, talent shortages, and supply chain fluctuations, requiring enterprises to conduct sound risk assessments, leverage policy support, and improve overseas investment service systems. Only by deeply integrating scientific capacity deployment, technological innovation, and industry chain coordination can the mounting bracket industry upgrade from “Made in China” to “Globally Intelligent Manufacturing” and achieve long-term development under the “dual carbon” goals. New Requirements Under the 15th Five-Year Plan, New Topics for PV Enterprises ◼ In a global market full of uncertainties, the consistency and strength of domestic policy have provided fertile ground for the growth of China’s solar panel mounting bracket enterprises. The newly released 15th Five-Year Plan further clarified China’s path for energy and industrial development. On the one hand, the construction of a new-type power system centered on consumption capacity has been listed as a priority task, and green manufacturing and full life cycle management have been formally incorporated into the assessment system. On the other hand, technological self-reliance and self-strengthening together with new quality productive forces have replaced scale competition as the main line of the new development stage. This series of changes signals that the country is driving a profound shift from “competing on capacity” to “competing on system value,” with the core goal of achieving autonomous and controllable energy structure. It is estimated that after the Two Sessions, various departments will successively roll out detailed plans to promote the full implementation of the blueprint. ◼ Key implementation measures include: 1) establishing a “dual controls” system for total carbon emissions and carbon intensity, while improving incentive and restraint mechanisms; 2) vigorously developing non-fossil energy and promoting the efficient use of fossil energy, while strengthening the construction of a new-type power system to ensure stable supply of green electricity; 3) applying both “addition and subtraction” by fostering green and low-carbon industries and promoting energy conservation and carbon reduction in key industry; 4) in addition, accelerating the green transformation of production and lifestyles to consolidate the foundation for green development. ◼ From the perspective of regional development layout, during the 15th Five-Year Plan period, China’s PV industry will show characteristics of regional coordination: north-west China will become the strategic focus by virtue of its natural endowments, exporting electricity through cross-provincial green electricity trading and other means to achieve two-way matching between energy resources and power load; eastern regions, by contrast, will focus on local consumption by high-energy-consuming industries and zero-carbon industrial parks. Source: public information, SMM. ◼ SMM forecasts that China’s new PV installations are expected to reach 208 GW in 2025 and continue growing at an annual average rate of 9% over the next five years, exceeding 292 GW by the end of the 15th Five-Year Plan period. Utility-scale PV will remain dominant, with its installation share staying above 50%. Based on the same logic, we estimate that China’s PV installation market will maintain annual incremental growth of at least 100-120 GW. Source: public information, SMM. ◼ Focusing on China’s steel consumption market for solar panel mounting brackets, SMM estimates that annual steel consumption in China’s PV mounting bracket sector will average about 4-4.5 million mt from 2026 to 2030, accounting for about 30% of total steel consumption in the PV industry over the same period (based on 2026 data). Note: only installation demand for utility-scale PV mounting brackets is included, excluding distributed steel structures, replacement from existing asset depreciation, and exports. Source: public information, SMM. SMM Ferrous Consulting Based on its understanding of the global steel industry chain and regional markets, as well as its strong industry database and network resources, SMM is committed to providing clients with consulting services across the upstream, midstream, and downstream industry chain. Services include market supply and demand research and forecasts, market entry strategies, competitor cost research, and more, covering end-use industry from iron ore, coal, coke, and steel. SMM Ferrous has successfully served more than 300 Fortune Global 500 companies, China Top 500 companies, central state-owned enterprises, state-owned enterprises, publicly listed firms, and start-ups. Data Source Statement: Except for public information, all other data are processed and derived by SMM based on public information, market communication, and SMM’s internal database models, and are for reference only and do not constitute decision-making advice. *This report is an original work and/or compilation work exclusively created by SMM Information & Technology Co., Ltd. (hereinafter referred to as “SMM”), over which SMM lawfully enjoys copyright, protected by the Copyright Law of the People’s Republic of China and other applicable laws, regulations, and international treaties. Without written permission, it may not be reproduced, modified, sold, transferred, displayed, translated, compiled, disseminated, or otherwise disclosed to any third party or licensed to any third party for use in any form. Otherwise, upon discovery, SMM will pursue legal liability for infringement by legal means, including but not limited to claims for breach of contract liability, disgorgement of unjust enrichment, and compensation for direct and indirect economic losses. All content contained in this report, including but not limited to news, articles, data, charts, images, audio, video, logos, advertisements, trademarks, trade names, domain names, layout designs, and any or all other information, is protected by the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and other relevant laws and regulations, as well as applicable international treaties relating to copyright, trademark rights, domain name rights, proprietary rights in commercial data and information, and other rights, and is owned or held by SMM and its relevant rights holders. Without prior written permission, no organization or individual may reproduce, modify, use, sell, transfer, display, translate, compile, disseminate, or otherwise disclose the above content to any third party or permit any third party to use it in any form whatsoever. Otherwise, upon discovery, SMM will pursue legal action to hold the infringing party liable, including but not limited to requiring the assumption of liability for breach of contract, disgorgement of unjust enrichment, and compensation for direct and indirect economic losses. The English translation of the above text is:

Recent Middle East conflicts have disrupted the region's booming energy storage market, a major destination for Chinese exports. To assess the real impact on Chinese supply chains and project deliveries, we must analyze baseline demand amidst these geopolitical uncertainties.

Metal materials are widely used in automotive components, and their price fluctuations significantly impact cost structures. According to SMM estimates, a typical NEV's cost breakdown is as follows: power battery (35%-40%), traction motor and motor controller (10%-20%), body/chassis/interior (30%), and other electronics (7%). This analysis focuses on the traction motor system, as SMM has extensively covered batteries elsewhere. Within the motor system (10%-20% of total vehicle cost), raw materials account for the largest share. Key metal inputs include rare earth-neodymium iron boron (NdFeB) magnets (30%-35%) , copper-enameled wires (15%) , and aluminum-structural components (20%) . The simultaneous surge in these metals from late 2025 to early 2026 has placed immense cost pressure on motor manufacturers and NEV OEMs . 1. Rare Earth Metals: Supply Squeeze and Demand Resilience Drive Prices Up ​ Rare earth prices, particularly for praseodymium-neodymium (PrNd) metal, have risen sharply. As of February 9, 2026, PrNd prices reached 975,000–985,000 RMB/ton , a year-to-date increase of 33.1% . This acceleration stems from tight supply ​ (limited upstream output, weak production activity, and reduced spot availability due to long-term contract deliveries) and robust demand ​ (steady overseas orders for magnetic materials and growing expectations for NEVs and e-bikes in 2026). These factors collectively pushed prices upward . Motor manufacturers face greater challenges than magnetic material suppliers. They must absorb not only soaring rare earth costs but also high copper prices. Compounding this, motor makers struggle to pass cost increases downstream . NEV OEMs, grappling with fierce market competition, resist price adjustments. Consequently, motor producers are caught between expanding losses ​ (if they continue production) and losing market share ​ (if they halt operations). Their weak bargaining power, due to proximity to concentrated downstream customers, exacerbates the strain . 2. Copper: Structural Supply-Demand Imbalance and Financial Factors ​ Copper prices rose sharply from 87,000 RMB/ton in late 2025 to 105,000 RMB/ton in early 2026 , a gain of over 20% , and have remained elevated. This rally was driven by: Supply-chain constraints : Production disruptions in major copper-producing countries (e.g., Chile, Peru), geopolitical tensions, and logistics bottlenecks limited short-term supply. Financial influences : Global liquidity conditions and inflation expectations attracted speculative capital, amplifying price volatility. Strong demand : Sustained optimism regarding data centers and cable demand further supported prices . The impact on motors is direct and significant. Copper, critical for stator and rotor windings, constitutes a substantial portion of motor raw material costs. The price surge adds hundreds of RMB to the cost per motor , translating to billions of RMB in additional annual expenses ​ for large-scale OEMs. This pressure cascades through the supply chain, squeezing margins for material suppliers, motor makers, and vehicle manufacturers. While some industrial motor firms have raised prices, NEV OEMs have so far absorbed the costs, further straining their profitability . 3. Aluminum: Tight Fundamentals Amid Energy Transition Demand ​ Aluminum prices climbed nearly 10% ​ from December 2025 to January 2026, primarily due to structural supply-demand tightness . Demand is bolstered by global energy transition trends (e.g., NEV bodies, battery trays, and e-drive casings) and solar PV growth. On the supply side, aluminum production—highly energy-intensive—faces pressure from elevated global power prices, leading to unstable operational rates. Financial investors' focus on "green metals" has also contributed to price gains . Although aluminum's cost sensitivity is lower than copper's, it is widely used in motor housings, end covers, and cooling systems. Price increases directly raise motor manufacturing expenses, costing hundreds of millions of RMB ​ for producers at million-unit annual scales and eroding margins for motor suppliers and OEMs . 4. Path Forward: Technology and Supply Chain Adaptation ​ The concurrent rise in rare earth, copper, and aluminum prices has created unprecedented cost pressure. Motor and vehicle manufacturers urgently seek cost reductions, but technological solutions (e.g., flat-wire motors , material recycling ) require time. Short-term strategies include long-term supply contracts ​ and futures hedging ​ to manage risks. Long-term success will hinge on material innovation ​ (e.g., reducing rare earth content, optimizing aluminum-for-copper substitution) and vertical supply chain integration ​ to navigate resource constraints . SMM advises industry players to closely monitor policy shifts and alternative technologies, adapting procurement and production strategies dynamically

Recently, the latest report from the International Energy Agency's Photovoltaic Power Systems Programme revealed that, driven by PV module price reductions, improved investor confidence, and the urgency of climate action, global solar PV installations in 2024 increased by nearly 29% YoY. The "2024 Global PV Market Snapshot" simultaneously disclosed that the global cumulative PV installations have exceeded 2.26 TW, with over 47% added in the past three years. The report also indicated that 35 countries worldwide have achieved GW-scale annual installations, while emerging markets such as Africa and the UAE are accelerating expansion, becoming key drivers of global renewable energy growth.

[Gotion High-tech: 20MWh ESS Battery System Secures 3GWh Orders] From June 11 to 13, the 18th (2025) International Solar PV and Smart Energy (Shanghai) Conference & Exhibition was held in Shanghai. Gotion High-tech showcased multiple ESS products at the exhibition. Among them, the newly launched Qianyuan Zhichu 20MWh ESS battery system made its debut at the exhibition. At the signing ceremony, the 20MWh ESS battery system received letters of intent from multiple customers, with a cumulative capacity exceeding 3GWh.

On June 10, Shanghai Municipality and Sarawak State, Malaysia, marked a significant milestone in their energy cooperation, advancing on two fronts simultaneously. On the same day, Shanghai Mayor Gong Zheng met with a delegation led by Deputy Prime Minister of Sarawak State, Malaysia, Sim Kui Hian, and the two sides exchanged views on deepening economic, trade, and investment cooperation, as well as new energy development. During the delegation's visit to Shanghai, Dato Ibrahim Bakki, Deputy Minister of Public Utilities and Communications of Sarawak State and Chairman of Sarawak Energy Berhad, led a Sarawak delegation to visit Shanghai Electric and held in-depth discussions with Wu Lei, Secretary of the Party Committee and Chairman of Shanghai Electric Group, on further deepening cooperation. Meanwhile, Shanghai Electric signed cooperation agreements with the Sarawak State Government and China Three Gorges International Energy Investment Co., Ltd., marking a new phase in green energy collaboration between China and Malaysia under the framework of the Belt and Road Initiative. Dato Ibrahim Bakki first conveyed greetings from Sarawak Premier Tan Sri Datuk Patinggi Abang Johari Tun Openg to Wu Lei and expressed gratitude to Shanghai Electric for its contributions to promoting Sarawak's energy transition in recent years. He stated that with abundant renewable resources and a strategic geographical location, the Sarawak State Government of Malaysia is currently investing heavily in green energy sources such as solar, hydrogen, natural gas, and hydropower, aiming to transform Sarawak into a clean energy hub for Southeast Asia and even Asia through sustainable future industries. The Sarawak State Government of Malaysia regards Shanghai Electric as a trusted Chinese enterprise and looks forward to strengthening further cooperation with Shanghai Electric in areas such as hydrogen energy, hydropower, PV, ESS, and gas turbines to support Sarawak's green energy transition. Wu Lei welcomed the visit of Dato Ibrahim Bakki and his delegation and briefly introduced Shanghai Electric's business operations. He stated that Sarawak is an important base for Shanghai Electric to expand its market in Malaysia and Southeast Asia. Through years of connectivity-building efforts, Shanghai Electric has achieved remarkable cooperation results with the Sarawak State Government of Malaysia and Sarawak Energy Berhad. At this critical stage of the synergistic advancement of the Belt and Road Initiative and the ASEAN Energy Community, Shanghai Electric is willing to actively implement the "Joint Statement on Building a High-Level Strategic China-Malaysia Community with a Shared Future" and take this visit by the Sarawak delegation to Shanghai as an opportunity to strengthen cooperation with all parties in Sarawak across various fields through its advantages in equipment manufacturing and scientific and technological innovation R&D, jointly writing a new chapter in Southeast Asia's energy transition. Earlier on the 10th, Zhu Zhaokai, Deputy Secretary of the Party Committee and President of Shanghai Electric Group, was invited to attend the opening ceremony of the 18th International Solar PV and Smart Energy (Shanghai) Conference & Exhibition and witnessed the signing of a "Memorandum of Understanding on Cooperation for the Sarawak 1000 MW Bakun Reservoir Floating PV Project" among the Sarawak Ministry of Public Utilities and Communications, China Three Gorges International Energy Investment Co., Ltd., and Shanghai Electric Power Transmission and Distribution Group Co., Ltd. According to the agreement, the three parties will leverage Sarawak's unique conditions for floating PV development to promote the installation of over 1 gigawatt (GW) of floating PV capacity in the Bakun reservoir area, ensuring that Sarawak achieves its established target of a total installed capacity of 10,000 megawatts (MW) by 2030, and jointly assisting Sarawak in becoming a new energy power generation hub in Southeast Asia. The heads of relevant industrial sectors from the Sarawak Ministry of Utilities and Telecommunications, Sarawak Energy Berhad, and Shanghai Electric attended the above-mentioned event.

Recently, the Coega Green Ammonia Project in Johannesburg-Nelson Mandela Bay has reached a new milestone, with the development phase of a 1,430-megawatt (MW) solar PV cluster receiving approval. This cluster will provide 40% of the electricity required for the green hydrogen project. South Africa's PGM mining industry supports PGM-based PEM technology to address the intermittency of renewable energy. The Coega Green Ammonia Project, led by Thulani Gcabashe, Chairman of Hive Hydrogen South Africa, will utilize solar and wind energy to produce green ammonia, primarily for export to Europe and the Far East. The project will commence at the Port of Ngqura, adjacent to the Coega Special Economic Zone, and is expected to achieve commercial operation in Q4 2029.