German Economy Minister Says EU Open for Talks on China Tariffs

German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights
German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights
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German Economy Minister Says EU Open for Talks on China Tariffs

German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights
German Vice Chancellor and Economy Minister Robert Habeck poses for pictures alongside National Development and Reform Commission (NDRC) Chairman Zheng Shanjie following the opening session of the German-Chinese Climate and Transformation Dialogue in Beijing, China June 22, 2024. REUTERS/Maria... Purchase Licensing Rights

Germany's Economy Minister Robert Habeck said during his visit to China on Saturday that the European Union's door is open for discussions regarding EU tariffs on Chinese exports.

"What I suggested to my Chinese partners today is that the doors are open for discussions and I hope that this message was heard," he said in his first statement in Shanghai, after meetings with Chinese officials in Beijing, Reuters reported.

Habeck's visit is the first by a senior European official since Brussels proposed hefty duties on imports of Chinese-made electric vehicles (EVs) to combat what the EU considers excessive subsidies.

Habeck said there is time for a dialogue between the EU and China on tariff issues before the duties come into full effect in November and that he believes in open markets but that markets require a level playing field.

Proven subsidies that are intended to increase the export advantages of companies can't be accepted, the minister said.

Another point of tension between Beijing and Berlin is China's support for Russia in its war in Ukraine. Habeck noted Chinese trade with Russia increased more than 40% last year.

Habeck said he had told Chinese officials that this was taking a toll on their economic relationship. "Circumventions of the sanctions imposed on Russia are not acceptable," he said, adding that technical goods produced in Europe should not end up on the battlefield via other countries.



Saudi Arabia Among World's Top 10 Global Markets in Energy Storage

Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)
Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)
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Saudi Arabia Among World's Top 10 Global Markets in Energy Storage

Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)
Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. (SPA)

Saudi Arabia has achieved a leading position among the top ten global markets in the field of battery energy storage, coinciding with the launch of the Bisha Project, which has a capacity of 2000 MWh and is one of the largest energy storage projects in the Middle East and Africa.

Through the National Renewable Energy Program, overseen by the Ministry of Energy, the Kingdom aims to achieve a storage capacity of up to 48 gigawatt-hours by 2030. So far, 26 gigawatt-hours of storage projects have been tendered, and they are at various stages of development.

These projects play a pivotal role in supporting the expansion of renewable energy, thereby helping achieve the targets of the national energy mix. The Kingdom aims for 50% of total electricity production to be generated by renewables by 2030, reported the Saudi Press Agency on Friday.

According to the ranking by Wood Mackenzie consultancy, which specializes in the energy sector, Saudi Arabia is at the forefront of emerging markets that are experiencing rapid growth in energy storage projects, amid expectations of the new storage capacities to further strengthen the Kingdom's position among the top ten global markets in this field over the next decade.

This growth aligns with the goals of the Saudi Vision 2030, which seeks to expand electricity production from renewable sources such as solar and wind energy.

The Kingdom plans to operate 8 GWh of energy storage projects by 2025, and 22 GWh by 2026, positioning itself as the third largest global market in energy storage projects, following China and the United States, based on the storage capacities announced to date.

The recently operational Bisha battery energy storage project features 488 advanced battery containers with a storage capacity of 500 MW for a duration of four hours.

The project facilitates battery charging during low-demand periods and discharging during peak times, ensuring backup power availability when necessary, improving the flexibility of electricity supply management, and promoting smart solutions for a more sustainable energy future.

The Kingdom's energy sector is undergoing a significant transformation that strengthens its leading position in the production and export of diverse energy types. By the end of 2024, the total capacity of renewable energy projects, across all stages of development, had reached 44.1 GW.

Energy storage plays a crucial role in enhancing the reliability of electricity supply, thereby improving the National Grid's capacity to deal with emergency situations and achieving strategic objectives for the advancement of the energy sector in the Kingdom.