Core Viewpoint - The company, Xiehe New Energy, has entered into a procurement and construction agreement with NoBull Energy LLC for a solar power project in the United States, valued at approximately $114 million [1] Group 1: Project Details - The project will include about 147 megawatts of AC solar power capacity and a related battery storage system with a general capacity of approximately 361 megawatt-hours [1] - The agreement is part of the company's routine business operations in solar energy projects [1] Group 2: Agreement Terms - The company evaluated the procurement and construction agreement based on specifications, contractor qualifications, product and service quality, pricing, and other terms provided by the contractor [1] - The board believes that the terms of the procurement and construction agreement are established on normal commercial terms, deemed fair and reasonable, and in the overall interest of the company and its shareholders [1]

Core Viewpoint - The announcement highlights a significant procurement and construction agreement between Blue Heron Solar and NoBull Energy, valued at approximately $114 million, for a solar power facility in the United States [1] Group 1: Agreement Details - The agreement involves a fixed-price, all-inclusive contract for the contractor to undertake the project, which includes procurement, installation, construction, testing, grid connection, and commissioning services [1] - The project will feature approximately 147 megawatts of AC solar power capacity and a related battery storage system with a capacity of about 361 megawatt-hours [1] Group 2: Project Timeline and Equipment - The project is scheduled for completion no later than the end of July 2027 [1] - The owner will directly procure several essential pieces of equipment for the project, including the main power transformer, battery storage system, and photovoltaic solar modules [1]

Core Viewpoint - The company, Xiehe New Energy, has announced a procurement and construction agreement with NoBull Energy for a solar power project in the United States, valued at approximately $114 million, with a completion deadline set for July 2027 [1] Group 1: Project Details - The project will include about 147 megawatts of AC solar power capacity and a related battery storage system with a capacity of approximately 361 megawatt-hours [1] - The contractor will undertake the project on a fixed-price, all-inclusive basis, ensuring completion by a specified date [1] - The owner will directly procure several essential components for the project, including the main power transformer, battery storage system, and photovoltaic solar modules [1]

Core Viewpoint - The article discusses the significant impact of the "Big and Beautiful Act" passed under Trump's administration, which ends long-standing federal support for solar and wind energy, favoring fossil fuels instead. This act is seen as a major victory for Trump, as it dismantles Biden's legacy of promoting renewable energy [1][3]. Summary by Sections Impact on Renewable Energy - The "Big and Beautiful Act" tightens tax incentives for clean energy, which have been crucial for the development of renewable energy since their introduction in 2005 and 1992. The act stipulates that solar and wind projects operational after 2027 will no longer receive these incentives, indicating a potential decline in clean energy investments in the U.S. [3][4]. - According to Rhodium Group, since the Inflation Reduction Act was passed in 2022, the corporate sector has invested $321 billion in U.S. clean energy projects, with an expected additional investment of $522 billion. However, the new act is likely to severely impact the profitability of these projects [3][4]. Electric Vehicle Sector - The act terminates the $7,500 tax credit for new electric vehicle purchases and the $4,000 credit for used electric vehicles, which is expected to decrease the penetration rate of electric vehicles in the U.S. market [3][4]. - Experts indicate that the act will harm not only U.S. electric vehicle companies but also allies like South Korea and Japan, which have invested in U.S. manufacturing but lack cost advantages compared to Chinese electric vehicle manufacturers [4]. Foreign Entity Restrictions - The act imposes strict restrictions on foreign entities (FEOC) involved in clean energy projects, limiting tax credits for companies that engage with prohibited foreign entities or source materials from them. This aims to exclude Chinese companies from clean energy subsidies [5][6]. - The act's FEOC provisions are broader than those in the Inflation Reduction Act, affecting more Chinese companies, including private enterprises, and limiting indirect investments through technology licensing and material sourcing [5][6]. Economic Implications - The act is expected to freeze project financing in the clean energy sector, with significant implications for the U.S. energy landscape. The time required for clean energy projects to become operational may lead to financial losses and project cancellations [7]. - If clean energy tax incentives are removed, the construction of solar, wind, and storage projects could decrease by 57% to 72% by 2035, while electricity demand continues to rise, leading to increased energy costs for consumers and businesses [10][11]. Global Climate Governance - The article suggests that as long as the Republican Party remains in power, global climate governance will face challenges, with China and Europe likely to take a more prominent role in climate initiatives. The U.S. withdrawal from climate commitments could hinder global efforts to address climate change [11].

Core Points - The passage of Trump's "Big and Beautiful Act" marks a significant shift away from federal support for solar and wind energy, favoring fossil fuels instead [1][10] - The act is expected to have a profound impact on the U.S. and global renewable energy industries, leading to a decline in clean energy investments and potential job losses [2][9] Summary by Sections Impact on Renewable Energy - The "Big and Beautiful Act" tightens tax incentives for clean energy, particularly affecting investments in wind and solar power, which have historically relied on these tax credits [2] - The act stipulates that solar and wind projects operational after 2027 will no longer receive tax credits, indicating a potential decline in U.S. clean energy investments [2] - Consulting firm Rhodium Group estimates that the cancellation of clean energy tax incentives could reduce the construction of solar, wind, and storage projects by 57% to 72% by 2035 [8] Electric Vehicle Sector - The act terminates the $7,500 tax credit for new electric vehicle purchases and the $4,000 credit for used electric vehicles, likely leading to a decrease in electric vehicle penetration in the U.S. [2][3] - Experts suggest that the act will harm not only U.S. electric vehicle companies but also allies like South Korea and Japan, which have invested in U.S. manufacturing [3] Foreign Entity Restrictions - The act imposes strict restrictions on investments from "Prohibited Foreign Entities" (PFE), which includes companies from countries like China, Russia, and Iran, limiting their access to energy tax credits [4][5] - Companies must ensure that over 60% of their components are sourced outside of China to qualify for tax credits, a requirement that will increase to 85% by 2030 [4] Economic and Political Implications - The act is seen as a move towards protectionism, aiming to bolster domestic industries while weakening foreign competition, particularly from China [5] - The act's implementation may freeze project financing in the clean energy sector, as the time from project initiation to operation can span several years [5][8] Broader Consequences - The act is expected to increase electricity prices for consumers, with average household electricity costs projected to rise by 7.3% and business costs by 10.6% [8] - The shift away from clean energy initiatives may hinder global climate governance efforts, as the U.S. is a major carbon emitter [8][10]