Market Talk – October 1st, 2020

by Martin Armstrong
Armstrong Economics


Chinese state-owned utility Huanghe Hydropower Development has finished building the world’s largest solar power project in a desert in the northwestern Chinese province of Qinghai. Chinese inverter manufacturer Sungrow, which supplied the inverters, said that the 2.2 GW solar plant was built in five phases. It involved an investment of RMB15.04 billion ($2.2 billion) and includes 202.8 MW/MWh of storage capacity.

India’s current account surplus rose to a record $19.8 billion in April-June as its trade deficit narrowed sharply, the Reserve Bank of India said on Wednesday. The surplus stood at 3.9% of gross domestic product (GDP) in the latest quarter, compared with a deficit of $15 billion or 2.1% in the same period a year ago, RBI data showed.

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