Ever since the U.S.-Iran war choked the Strait of Hormuz, Asian importers have scrambled for new sources of oil and LNG to keep the lights on. Yet China’s energy companies are reckoning with an entirely different problem: They have too much power.
“China’s grid is a very strong and stable one,” Youyuan Huang, executive vice chairman of BTR New Material Group, the world’s top maker of battery anode materials, said at the Fortune Leaders Forum in Macau on Sept. 8. “But we’ve installed too much green energy.”
