China Says Solar Power Capacity Surpasses Coal for First Time

 An aerial view of solar panels at the Yinchuan Fourth Photovoltaic Power Station in Yinchuan, in northwestern China's Ningxia Hui Autonomous Region, on August 25, 2026. (CN-STR / AFP)
An aerial view of solar panels at the Yinchuan Fourth Photovoltaic Power Station in Yinchuan, in northwestern China's Ningxia Hui Autonomous Region, on August 25, 2026. (CN-STR / AFP)
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China Says Solar Power Capacity Surpasses Coal for First Time

 An aerial view of solar panels at the Yinchuan Fourth Photovoltaic Power Station in Yinchuan, in northwestern China's Ningxia Hui Autonomous Region, on August 25, 2026. (CN-STR / AFP)
An aerial view of solar panels at the Yinchuan Fourth Photovoltaic Power Station in Yinchuan, in northwestern China's Ningxia Hui Autonomous Region, on August 25, 2026. (CN-STR / AFP)

China's installed solar energy capacity has surpassed that of coal-fired power for the first time, the national energy body said Tuesday, hailing the milestone.

China, the world's largest emitter of greenhouse gases that drive climate change, has pledged to peak carbon emissions by 2030 and achieve carbon neutrality by 2060.

"As of the end of July this year, China's installed solar power capacity reached 1.286 billion kilowatts," the National Energy Administration (NEA) said.

"For the first time, photovoltaic installed capacity surpassed coal-fired power, becoming the largest power source category in China," it added.

The country's coal-fired power installed capacity, the energy body said, stood at 1.285 billion kilowatts.

Solar generation rose 15.5 percent on-year in the first seven months of 2026 to 802.4 billion kilowatt-hours, about one-eighth of the country's total, the NEA said in another statement.

It did not detail in these statements what the total generation of coal-powered energy was for the first seven months of this year.

The NEA said China's installed solar power capacity and power generation "have maintained a steady trend of rapid growth", with it playing an "increasingly prominent role" in guaranteeing electricity supply and driving the energy transition.

Coal has been China's key power generation source for decades and a key driver of its planet-warming emissions.

But the country's coal-fired power generation fell by nearly two percent in 2025, despite rising energy demand in the world's largest emitter, data reviewed by AFP showed in February.

It marked the first decline in six years, with some analysts saying it was the first time on record that coal generation dropped at the same time as power demand rose.

China has seen an explosive growth in its renewable installation, with coal's share in its energy mix edging down in recent years.

The country installed a record 315 gigawatts of solar power and 119 gigawatts of wind power capacity last year -- over 80 percent of total newly installed power generation capacity, according to the China Electricity Council.



Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro banknotes (Reuters)
Euro banknotes (Reuters)
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Euro Zone Yields Fall after Iran Raises Prospect of Hormuz Reopening

Euro banknotes (Reuters)
Euro banknotes (Reuters)

Euro zone bond yields fell for a second straight day on Tuesday, hitting their lowest in almost two weeks after Iran raised the prospect of reopening the Strait of Hormuz and Washington hinted it could restart talks with Tehran, pushing oil prices lower.

Germany's 10-year bond yield, the benchmark for the bloc, fell 1 basis point to 3.44% after rising as much as 4 bps earlier in the session. It fell 7 bps on Monday as energy prices retreated.

A senior Iranian official told Reuters that the strait, which carried about a fifth of global energy supplies before the war, could reopen within seven days if the US also lifts its blockade of Iranian ports.

The official added that Iran's delegation to a UN meeting in New York this week has full authority to revive diplomacy over the conflict.

US Secretary of State Marco Rubio told NBC's "Today" show that Washington was open to speaking with Tehran.

The dip in energy prices helped pull yields lower globally after a surge in recent weeks fuelled by expectations of further interest-rate hikes to combat energy-driven inflation. Traders are pricing in around 35 bps of additional European Central Bank tightening this year, down from 40 bps on Friday.

Germany's two-year bond yield, which is sensitive to interest-rate expectations, fell 1 bp to 3.19%, following a 6-bp drop on Monday.

Rabobank senior rates strategist Lyn Graham-Taylor said lower oil prices following the Iranian comments were weighing on bond yields.

Brent crude futures were last down 1% to $100 a barrel after earlier falling to $97.40, the lowest in two weeks.


Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

General view of the Sharara oil field in Libya (Reuters)
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Libya's NOC Says Sharara Crude Pipeline Closure Losses at 130,000 bpd

General view of the Sharara oil field in Libya (Reuters)

Libya's National Oil Corporation said on Tuesday that the Sharara-Zawiya crude loading pipeline closure has led to daily losses of about 130,000 barrels per day, Reuters reported.

An armed military group closed valve seven on the Sharara crude pipeline to Zawiya port on Monday, resulting in a significant decline in production at the Sharara oilfield, the National Oil Corporation said in a statement.

 

 

 

 


Sources: Saudi Arabia Restarts East-West Oil Pipeline

FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
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Sources: Saudi Arabia Restarts East-West Oil Pipeline

FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A model of an oil pump is seen in front of a Saudi Arabian flag in this illustration taken January 9, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

Saudi Arabia has restarted operations at its East-West Pipeline and could resume exports from the Red Sea port of Yanbu later on Tuesday, three sources briefed on the matter said.

Drone attacks forced Saudi Arabia to shut its East-West Pipeline on September 13, halting crude loadings at the kingdom's Yanbu port.

The resumption of supplies on Tuesday helped to drive selling on global oil markets, traders said. Brent crude futures fell by more than $2 a barrel to its lowest since September 8.

Two trading sources said traders were getting ready for Saudi oil loadings by moving tankers to Egypt's Mediterranean Port Said for ship-to-ship transfers and also to Sidi Kerir.