In recent months, multiple Chinese state-owned enterprises (SOEs) and private companies have transferred ownership of dozens of their new energy subsidiaries. From January 2024 to April 2025, over 100 new energy asset sales were listed on Chinese property rights exchange platforms, with SOEs accounting for more than 70 percent. Sellers include major firms such as State Power Investment Corporation (SPIC), State Grid, China General Nuclear, Three Gorges Group, and China National Nuclear Corporation.
Once seen as “cash cows,” the solar and wind projects are now considered financial burdens. Many projects fail to meet expected returns, with some even losing money due to falling electricity prices, including negative pricing in provincial spot markets. The phase-out of government subsidies and transition to market-based pricing has worsened their profitability. Intermittent generation and limited grid responsiveness make these projects uncompetitive, turning them into “hot potatoes” in the energy sector.
Source: Epoch Times, August 19, 2025
https://www.epochtimes.com/gb/25/8/18/n14576137.htm