Novo Nordisk is chopping prices again for its popular obesity treatment Wegovy, but doctors say the expense will remain challenging for patients without insurance.
The drugmaker said Monday that it has started selling higher doses of the injectable treatment for $349 a month to patients paying the full bill. That’s down from $499 and in line with terms of a drug pricing agreement outlined earlier this month by President Donald Trump’s administration.
Novo also has started a temporary offer of $199 a month for the first two months of low doses of Wegovy and the drug’s counterpart for diabetes, Ozempic. The new pricing will be available at pharmacies nationwide through home delivery and from some telemedicine providers.
Rival Eli Lilly also plans price breaks for its weight-loss drug Zepbound once it gets a new, multi-dose pen on the market.
Obesity treatments like Zepbound and Wegovy have soared in popularity in recent years. Known as GLP-1 receptor agonists, the drugs work by targeting hormones in the gut and brain that affect appetite and feelings of fullness.
In clinical trials, they helped people shed 15% to 22% of their body weight — up to 50 pounds or more in many cases. But affordability has been a persistent challenge for patients.
A recent poll by the nonprofit KFF found that about half of the people who take the treatments say it was hard to afford them.
Previous research has shown that people have difficulty paying for a medication when the cost rises above $100 per month for a prescription or refill, said Stacie Dusetzina, a Vanderbilt University Medical Center professor and prescription drug pricing expert.
She said new prices like those outlined by Novo are “not going to really move the needle for a person who doesn’t have a pretty reasonable amount of disposable income.”
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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content.
Published article outlines rationale for multi-pathway efficacy for (Z)-endoxifen in Duchenne Muscular Dystrophy (DMD); November scientific presentation to spotlight potential in Duchenne carrier–associated pathologies
SEATTLE, Nov. 17, 2025 /PRNewswire/ — Atossa Therapeutics, Inc. (Nasdaq: ATOS) (“Atossa” or the “Company”), a clinical-stage biopharmaceutical company developing innovative medicines in oncology, announces a growing body of scientific work supporting the potential role of its investigational therapy (Z)-endoxifen in DMD, a severe, progressive, and ultimately fatal neuromuscular disease, in addition to Duchenne carrier–associated pathologies (D-CAPs) that affect a subset of female carriers. The momentum is anchored by a newly published, peer-reviewed hypothesis article and an upcoming invited scientific presentation.
Newly published hypothesis article outlines why (Z)-endoxifen may matter in DMD The article about (Z)-Endoxifen in Duchenne Muscular Dystrophy (DMD), surveys the DMD treatment landscape and details how (Z)-endoxifen’s pharmacology could address multiple downstream drivers of disease, including inflammation, fibrosis, calcium dysregulation, mitochondrial dysfunction, and lipid abnormalities. A video abstract of the paper can be found here.
The paper emphasizes (Z)-endoxifen’s direct estrogen-receptor (ER) modulation, allosteric inhibition of PKC (notably PKC-β1), and effects along AKT/mTOR and NF-κB axes, mechanisms that together may help slow disease progression when used as an adjunct to standard care. Notably, the authors underscore (Z)-endoxifen’s potential to deliver more consistent therapeutic exposures than tamoxifen by bypassing CYP2D6 metabolic variability, an important limitation of the pro-drug approach. As illustrated in the mechanistic diagram, page 7 of the publication, the paper maps (Z)-endoxifen’s ER-dependent and ER-independent signaling effects relevant to dystrophic muscle.
Clinical context: Prior tamoxifen studies in DMD showed safety and encouraging trends but were underpowered due to premature termination during the pandemic, supporting continued exploration of more potent, exposure-reliable metabolites like (Z)-endoxifen.
Tissue exposure: (Z)-endoxifen tissue concentrations may substantially exceed plasma levels in certain settings, supporting a rationale for sustained pharmacodynamic activity at the muscle level.
Cardio-skeletal relevance: The paper reviews pathways tied to cardiomyopathy, now a leading cause of death in DMD, and discusses how ER/PKC-linked modulation could complement existing standards of care, including glucocorticoids and recently approved agents.
Pragmatic access: As a small-molecule candidate, (Z)-endoxifen could, if proven safe and effective, offer a potentially more scalable and accessible option alongside high-cost genetic approaches, while remaining mechanistically complementary.
As a follow-up to our initial publication, Atossa recently submitted a second manuscript investigating the potential mechanism of action of (Z)-endoxifen in Duchenne muscular dystrophy (DMD). This study focuses specifically on the role of (Z)-endoxifen in modulating utrophin expression and signaling pathways. The manuscript, entitled “(Z)-Endoxifen as a Modulator of Utrophin Pathways in Duchenne Muscular Dystrophy,” is currently under review with the Journal of Degenerative Neurological and Neuromuscular Disease. Utrophin is a structural and functional analog of dystrophin that can compensate for the loss of dystrophin in DMD, stabilizing the sarcolemma and mitigating muscle fiber damage. Pharmacological upregulation of utrophin represents a promising therapeutic strategy that is independent of the underlying dystrophin mutation. Our work explores how (Z)-endoxifen influences utrophin-related pathways, potentially offering a novel, mutation-agnostic therapeutic approach for DMD.
Scientific presentation to focus on female carriers H. Lawrence Remmel, Director of Atossa Therapeutics will present “Endoxifen: A Potential Novel Therapy for Duchenne Carrier-Associated Pathologies” at the 2nd International Conference on Women’s Health, Reproduction & Obstetrics in Rome, Italy, held November 17-19, 2025. The presentation builds on the published hypothesis and centers on symptomatic female carriers, a medically important yet under-recognized population in which 2.5–19% may experience skeletal-muscle symptoms and 7.3–16.7% may develop dilated cardiomyopathy.
Management commentary “Duchenne remains one of the highest-need pediatric diseases. The science we and our collaborators summarized points to a coherent, multi-pathway rationale for (Z)-endoxifen that is distinct from, and potentially synergistic with, genetic strategies,” said Steven Quay, M.D., Ph.D., Atossa Therapeutics Founder and CEO. “We believe this framework supports responsible next steps aimed at rigorously testing endoxifen as a potential adjunct in DMD and as an investigational option for symptomatic carriers.”
“Having led the first IND for a Duchenne therapy, I’ve seen how crucial it is to pair solid biology with a pragmatic development plan. (Z)-Endoxifen’s small-molecule profile, exposure-guided strategy, and phase-appropriate GxP controls position it for a rigorous, stepwise program focused on safety, PK/PD, and functional endpoints. Our goal is to engage regulators early and, if data support, pursue rare-disease pathways that can responsibly accelerate development for patients and families who have waited too long,” said Janet Rea, Senior Vice President, R&D of Atossa Therapeutics.
Mr. Remmel added, “Our Rome presentation will focus on Duchenne carrier–associated pathologies, where unmet need and biological plausibility intersect. The published hypothesis provides the mechanistic scaffolding, now the task is to translate this into data-driven clinical exploration.”
Why investors should care
Large unmet need, multiple shots on goal: DMD demands more than one solution; (Z)-endoxifen’s combinable, small-molecule profile offers a potentially capital-efficient path to add value alongside genetic and anti-inflammatory standards.
Mechanistic differentiation: Direct ER modulation plus PKC-β1 inhibition (with downstream AKT/mTOR and NF-κB effects) targets convergent disease nodes implicated across skeletal and cardiac muscle pathology. (See mechanistic diagram, page 7 of the publication.)
Broader population reach: Beyond boys with DMD, symptomatic female carriers represent a clinically meaningful extension opportunity aligned with our publication and the upcoming presentation.
Atossa intends to leverage the published framework to guide prioritized preclinical validation and the design of fit-for-purpose clinical studies. The Company expects they will be designed to assess safety, pharmacokinetics, pharmacodynamics, and functional endpoints relevant to upper-limb, diaphragmatic, and cardiac performance, while exploring biomarker-enriched and combination strategies consistent with standard of care. Investigational plans are subject to refinement and regulatory feedback.
About Duchenne Muscular Dystrophy (DMD) DMD is an X-linked, progressive neuromuscular disease driven by dystrophin loss, leading to muscle degeneration, loss of ambulation, respiratory compromise, and cardiomyopathy, with substantial morbidity, mortality, and economic burden. Cardiomyopathy is now a leading cause of death in DMD.
About (Z)-Endoxifen (Z)-Endoxifen is Atossa’s investigational ER-modulating small molecule. In oncology and CNS studies to date, (Z)-endoxifen has shown a favorable safety profile and pharmacology distinct from tamoxifen, including ER-targeted effects and PKC inhibition. (Z)-endoxifen is not approved for any indication.
About Atossa Therapeutics Atossa Therapeutics, Inc. (Nasdaq: ATOS) is a clinical-stage biopharmaceutical company developing innovative therapies for significant unmet needs in breast cancer. Atossa’s strategy emphasizes disciplined capital allocation, focusing resources on programs and data packages that can enable future regulatory submissions and potential commercialization. For more information, visit www.atossatherapeutics.com and refer to Atossa’s filings with the U.S. Securities and Exchange Commission (SEC).
Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the potential safety, efficacy, development plans, regulatory strategy, clinical trial design, timelines, and market opportunity for (Z)-endoxifen in DMD and in Duchenne carrier–associated pathologies. Forward-looking statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. These risks include, but are not limited to, preclinical and clinical development risks, regulatory uncertainties, manufacturing and supply constraints, competition, intellectual property risks, and funding availability. Atossa undertakes no obligation to update forward-looking statements except as required by law.
Medical Disclaimer (Z)-Endoxifen is investigational and has not been approved by the U.S. Food and Drug Administration or any other regulatory authority for DMD, D-CAPs, or any other indication.
DURHAM, N.C. and SEOUL, South Korea, Nov. 17, 2025 /PRNewswire/ — Lunit, a leading provider of AI for cancer diagnostics and precision oncology, and Labcorp, a global leader of innovative and comprehensive laboratory services, today announced a collaborative initiative to accelerate innovation in digital pathology (DP) and artificial intelligence (AI) for oncology research and clinical care.
Lunit and Labcorp collaborate to advance the real-world use of AI in oncology through digital pathology research
The collaboration aims to leverage Labcorp’s extensive clinical and pathology expertise alongside Lunit’s cutting-edge AI algorithms to transform how tumor microenvironments are analyzed and interpreted. By combining high-resolution whole-slide imaging with AI-powered spatial profiling, the collaboration seeks to generate new insights that can enhance biomarker discovery and guide precision immuno-oncology strategies.
First Collaborative Studies Presented at SITC and AMP
The first outcome of the collaboration was showcased at two leading scientific conferences:
Society for Immunotherapy of Cancer (SITC): Study demonstrated how AI-based spatial profiling and machine learning can identify immune-active subtypes of non-small cell lung cancer (NSCLC) tumors with the MET exon 14 skipping mutation, which are associated with improved immunotherapy outcomes. Using Lunit SCOPE IO®, researchers analyzed more than 370 pathology slides to characterize immune phenotypes across different types of MET alterations, including exon 14 skipping, amplification, or no mutation (wildtype). Immune gene expression analysis further validated the AI-defined immune phenotypes and revealed key immune response pathways driving the inflamed phenotype, underscoring the predictive power of AI-based spatial profiling in MET-mutated NSCLC.
Association for Molecular Pathology (AMP): Study highlighted distinct tumor-immune microenvironments linked to different MET alterations in NSCLC, revealing immune-desert phenotypes in MET-amplified tumors, and inflamed phenotypes in those with MET exon 14 skipping tumors.
“Collaborating with Labcorp, one of the most respected leaders in diagnostics and clinical research, marks an important step toward expanding the real-world use of AI in oncology. These early studies show how AI can reveal meaningful, predictive biomarkers hidden within pathology slides,” said Brandon Suh, CEO of Lunit. “It’s a clear example of how digital pathology and AI can work hand in hand to advance precision oncology understanding, bridging discovery research and real-world clinical care.”
“Our collaboration with Lunit aims to turn complex pathology data into meaningful insights,” said Shakti Ramkissoon, M.D., Ph.D., MBA, vice president and medical lead for oncology at Labcorp. “These studies demonstrate how AI-powered digital pathology can reveal patterns within tumors—ultimately helping to guide treatment decisions, inform biomarker development, and pave the way for more personalized cancer care.”
Labcorp and Lunit plan to further broaden their collaboration by applying digital pathology AI to additional cancer types and genomic correlations.
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About Lunit
Founded in 2013, Lunit (KRX: 328130) is a global leader on a mission to conquer cancer through AI. Our clinically validated solutions span medical imaging, breast health, and biomarker analysis—empowering earlier detection, smarter treatment decisions, and more precise outcomes across the cancer care continuum.
Following the integration of Volpara, Lunit now offers a comprehensive suite spanning risk prediction and early detection to precision oncology. Our FDA-cleared Lunit INSIGHT suite and breast health solutions support cancer screening in thousands of medical institutions worldwide, while Lunit SCOPE platform is used in research partnership with global pharma leaders for biomarker development and companion diagnostics.
Trusted by over 10,000 sites in more than 65 countries, Lunit combines deep medical expertise with continuously evolving datasets to deliver measurable impact—for patients, clinicians, and researchers alike. Headquartered in Seoul with global offices, Lunit is driving the worldwide fight against cancer. Learn more at lunit.io/en.
This press release contains forward-looking statements, including, but not limited to, statements with respect to the collaboration between Lunit and Labcorp and the potential benefits, uses and applications of artificial intelligence-powered digital pathology. Actual results could differ materially from those suggested by forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of the forward-looking statements. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
The Czech billionaire Daniel Křetínský is to become one of the largest shareholders in TotalEnergies after selling a stake in his electricity generation business, which includes several UK power plants, to the French oil company.
Křetínský, whose companies own stakes in Royal Mail and West Ham United football club, agreed to sell a 50% stake in his stable of European power plants to TotalEnergies for about €5.1bn (£4.5bn) in exchange for about 4.1% of Total’s share capital.
The deal will make his power generation business, Energetický a průmyslový holding (EPH), one of the French company’s biggest investors. It means Total will also own a share in a string of electricity generation assets across the UK, France, the Netherlands and Italy through a new joint venture.
Křetínský, the chair of EPH, said his company was “highly interested in becoming a long-term anchor shareholder of TotalEnergies”, and in creating a joint venture that was “a leading player in European flexible power generation”.
The tycoon, known as the Czech sphinx, became the first foreign owner of Royal Mail in its 509-year history after completing a deal to buy its parent company this year.
Křetínský, who is ranked 22nd on the Sunday Times rich list with an estimated fortune of £7.79bn, made much of his fortune in running coal, gas and power generation operations.
He also owns 27% of West Ham and 10% of the Sainsbury’s supermarket chain alongside stakes in several retailers including the US department store Macy’s, the trainer retailer Foot Locker and the German retailer turned wholesaler Metro.
Under the TotalEnergies deal, a new 50/50 joint venture will own enough UK power stations to meet the electricity demand of more than 3m homes, including Lynemouth power station in Northumberland the Kilroot power plant in Northern Ireland.
It will offer TotalEnergies, which is a big importer of liquefied natural gas into Europe, a network of customers for its gas and help to expand its power trading activities across Europe.
Patrick Pouyanné, the French company’s chair and chief executive, said: “Given our position as the number one gas supplier in Europe, this transaction enables us to fully capitalise on gas-to-power integration and create added value for our LNG chain, independently of oil cycles.”
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TotalEnergies is one of the largest oil and gas producers still operating in the UK’s North Sea basin. The company is also developing offshore windfarms in UK waters as well as solar farms in England and Wales.
Meanwhile, an electricity networks company owned by the Octopus Group has agreed to buy about 20 electricity distribution projects across the UK from Sweden’s state-owned energy company, Vattenfall.
Eclipse Power Networks will acquire Vattenfall’s independent energy networks for an undisclosed sum. This brings the assets under the Octopus Group umbrella, which also includes Octopus Energy, Britain’s biggest energy supplier. The deal means Vattenfall’s exit from the UK electricity distribution market, while its other British operations including onshore and offshore windfarms continue to operate.
Japan’s Teijin Limited and BioVaram (UR Advanced Therapeutics Pvt. Ltd.), a growing biotech company incubated at ASPIRE, University of Hyderabad, have entered into a strategic alliance to jointly explore opportunities for expanding the former’s portfolio of implantable medical devices and regenerative medicine products in India, while introducing BioVaram’s innovative biotech solutions to Japan.
Under the agreement, the companies will work toward obtaining regulatory approvals and commercialising Teijin’s cardiovascular repair patch, SYNFOLIUM, in India, while also expanding the reach of regenerative medicine products from Japan Tissue Engineering Co., Ltd. (J-TEC)—a Teijin Group company—across the Indian market. Mission Executive and General Manager, Regenerative Medicine & Implantable Medical Device Division, Takayuki Nakano, stated that the partnership is a major milestone in Teijin’s global expansion strategy, uniting complementary strengths to address unmet medical needs in Japan and India.
Founder and CEO of UR Advanced Therapeutics, Jaganmohan Reddy, emphasised that the collaboration accelerates BioVaram’s mission to bring India’s next-generation biotech innovations to global markets through deep research, cutting-edge technologies, and scalable manufacturing.
Together, Teijin and BioVaram will assess business feasibility, regulatory pathways, and product integration strategies to advance regenerative medicine and expand access to breakthrough healthcare solutions in both countries.
Here are Monday’s biggest calls on Wall Street: Jefferies reiterates Microsoft as buy Jefferies said the stock remains well positioned for AI. ” Microsoft is a large, diversified business with high visibility and a clear line of sight into double-digit revenue growth for the foreseeable future.” Bank of America reiterates Nvidia as buy The firm is sticking with the stock ahead of earnings later this week. “Our positive view on Nvidia is based on its underappreciated transformation from a traditional PC graphics chip vendor, into a supplier into high-end gaming, enterprise graphics, cloud, accelerated computing and automotive markets.” Rothschild & Co Redburn reiterates Nvidia as buy The firm raised its price target on Nvidia ahead of earnings later this week. “We raise our price target to $245 from $211 previously.” Barclays upgrades Gap to overweight from equal weight Barclays said it sees a “brand recovery.” “We upgrade GAP shares following a disciplined leadership strategy under CEO Richard Dickson, focused on long-term sales and margin recovery across all brands through product innovation, customer targeting, and marketing excellence.” Morgan Stanley downgrades Dell to underweight from overweight Morgan Stanley said it sees margin pressure. “We are downgradin g DELL to UW (from OW) with a new $110 PT given margin risk offsetting AI growth over the N12M. [next twelve months]” Read more. Morgan Stanley downgrades HP to underweight from equal weight Morgan Stanley downgraded Hewlett Packard due to margin pressure. “Downgrade to Underweight as margin headwinds more than offset PC strength.” Wells Fargo initiates TopBuild as overweight Wells said it’s bullish on the building materials company. “BLD brings a lot to the table: healthy mix of resi/commercial end mkts, solid M & A track record & a strong growth platform ($90B+ TAM). Cyclical risks are real, but BLD is primed to outperform peers.” JPMorgan reiterates Apple as overweight JPMorgan said iPhone 17 demand remains stable. “In Week 10 of our Apple Product Availability Tracker, lead times across the iPhone 17 series remained unchanged, modestly better than a decline of one day observed from Wk9 to Wk10 in the prior year.” Oppenheimer initiates Akamai as outperform Oppenheimer said the company is “well-positioned for LT growth in security and cloud compute.” “We are initiating coverage of Akamai (AKAM) with an Outperform rating and a price target of $100.” Mizuho upgrades Rubrik to outperform from neutral Mizuho said it’s bullish on shares of the software company. “In the roughly 6 months following our valuation-driven downgrade on RBRK, the shares have largely struggled despite good ongoing execution. Meanwhile, our checks on RBRK remain favorable, and we believe the prospects for healthy Subscription ARR upside over the near-to medium term are good.” RBC initiates Axon as outperform RBC said the public safety company is well positioned. “We are initiating coverage on AXON with an Outperform rating and a price target of $860.” TD Cowen upgrades Yum Brands to buy from hold TD Cowen said it sees an attractive risk/reward for the owner of brands like KFC. “We expect the likely sale of Pizza Hut to amplify Yum’s growth profile, that would lead to the best in-class development growth profile within quick service & a clearer focus on Taco Bell comps which we model above consensus in 2026 & beyond.” UBS upgrades Expeditors International of Washington to buy from neutral UBS said it sees lower ocean rates for the logistics company in 2026. “We are upgrading EXPD from Neutral to Buy because we expect growth in customs / other to offset pressure from lower ocean rates in 2026.” Stifel reiterates Tesla as buy Stifel raised its price target on the stock. “We are raising our target price on TSLA to $508 from $483 based on our sum-of-the-parts analysis. Following strong 3Q25 sales, we expect some headwinds for auto sales following the expiration of the U.S. EV tax credit. Importantly, we believe TSLA is making strong progress on FSD and Robotaxi, both of which we believe is critical to value creation.” Read more . Bank of America upgrades Vita Coco to buy from neutral Bank of America said “tariff relief is here” for Vita Coco. “We upgrade shares o f Vita Coco (COCO) from Neutral to Buy and raise our PO from $48, following the White House’s Friday post-market announcement excluding certain agricultural products, including coconut water, from reciprocal tariffs” Bank of America upgrades Ball Corp and O-I Glass to buy from neutral The firm said both packaging companies have “momentum.” “We were disappointed to see another management change at BALL, but volumes, earnings and valuation look positive into 2026 . OI has risk due to volumes but its Fit to Win (FTW) initiatives drive earnings momentum.” Bank of America reiterates Snowflake as buy Bank of America raised its price target on Snowflake to $310 per share from $280. “We reiterate our Buy with a view that outperformance over the long term is likely given incremental traction with products addressing a significant larger addressable AI market for software of $155bn.” Bank of America reiterates Taiwan Semiconductor as buy Bank of America raised its price target on the stock to $1,960 per share from $1,800 and said the stock is underappreciated. ” TSMC, as the leading contract manufacturer of semiconductor chips, is in a good position to capitalize.” Jefferies upgrades American Electric to buy from hold Jefferies said the utility company is a data center beneficiary. “Upgrad e AEP to Buy ($137.00): Data center growth enables earned ROE improvement for key large-cap long.” Rosenblatt reiterates Micron as buy Rosenblatt raised its price target on the stock. “We continue recommending the MU shares while industry DRAM and NAND Flash supply growth is constrained. Our revised 12-month price target is $300, up from $250.”
A decade ago, few would have imagined that state-of-the-art clean-energy technologies could be deployed in remote regions, like the Indonesia island of Sulawesi, which straddles the equator between the Indian and Pacific oceans.
But last year, a steel mill in the Indonesia Morowali Industrial Park began covering its roof with solar photovoltaic (PV) panels, replacing 65.9 megawatts (MW) of power previously generated by an on-site coal power plant. This 270 million yuan ($37.5 million) investment from a Chinese company will help the steel mill cut about 100,000 metric tons of carbon dioxide emissions each year.
Similar projects are starting to occur elsewhere in the world, too. For example, in Africa, a fiberglass manufacturer at the TEDA Industrial Park commissioned a 7.5 MW rooftop solar project.
At a steel mill at Morowali Industrial Park in Indonesia, a Chinese company invested $37.5 million to install rooftop solar panels, helping the park move away from a reliance on fossil fuels. Photo by Raynton Rare’a/Shutterstock.
As concentrated hubs of both production and energy consumption, industrial parks can make a significant impact in the global industrial transition to clean energy.
China’s Potential to Spur Decarbonization of Global Industrial Parks
Among the few countries that invest in overseas industrial parks — manufacturing and business facilities developed by one country and located in another — China’s investment has been significant. Together with development assistance, investment in overseas industrial parks is a leading form of China’s international investment.
New WRI research evaluating the technical potential of renewable energy projects developed in China’s overseas industrial parks, show between 1992 and 2022, the country invested 652 billion yuan ($89.7 billion) in 159 overseas industrial parks. These parks, which are joint ventures funded and operated by China and their host countries, are located in 54 countries around the world.
From mineral-rich resource hubs to high-tech research centers, these industrial parks are vital to global supply chains, shaping manufacturing and helping to spur global economic growth. These parks also include agro-industrial facilities which operate agriculture plants and processing businesses, and trade and logistics parks that serve as hubs where goods are stored and transported.
Nearly half the industrial parks are in Asia, while industrial parks in Africa and Europe make up the majority of the other half. Notably, most of these parks are situated in areas rich in renewable energy resources. For instance, most lie in mid- to low-latitude regions with ample and reliable sunshine, making them well-suited for solar energy deployment.
Our research shows that transitioning China’s overseas industrial parks to clean energy will sharply cut emissions in host countries, helping them reach their own climate change and renewable energy development goals.
By 2050, converting all of the China’s overseas industrial parks to solar PV and wind power systems, would bring the world 2% closer to reaching net zero. Making the transition before 2030 will bring the world nearly 5% closer to achieving this goal. This is technically achievable because the mature technologies needed to accomplish this already exist. Solar PV projects in China’s overseas industrial parks can reach maximum installed capacity of 419.66 gigawatts (GW). Wind power projects can reach maximum installed capacity of 116.48 GW. All told, this could eliminate a total of 340 million metric tons of carbon dioxide emissions each year.
Opportunities and Challenges
Supplying stable electricity to industrial park tenants is typically a fundamental service provided by its operators. For parks located in remote areas without access to the grid, operators need to build their own captive power plants, utilizing local energy resources. They may choose coal, diesel, gas or renewables, whichever is the least expensive or technically feasible. Tenants that want clean electricity may need to design, build, operate and maintain their own renewable energy plants in collaboration with industrial park operators and/or local solar or wind companies.
Technical Potential for Renewable Energy Solutions
Different technologies, rooftop solar PV systems, ground-mounted solar PV systems and wind power systems offer various advantages. Their scalability depends on geography, weather and energy requirements of various types of industrial parks. While quickly replacing entire fossil-fuel powered facilities is unrealistic in most cases, renewable energy could begin supplying smaller parts of the energy mix.
Converting to Renewable Energy Can Attract Private Investors
Integrating renewable energy into the electricity generation portfolio of industrial parks could attract an investment of more than 2 billion yuan ($280 million). This includes a potential investment of 552 million yuan ($77 million) in rooftop solar PV projects, 1.1 billion yuan ($158 million) in ground-mounted PV projects and 383 million yuan ($53 million) in wind projects.
Policy and Market Motivations to Decarbonize
China’s overseas industrial parks conduct low-carbon planning and actions on a voluntary basis, guided by associated policies and directives from government agencies, as well as by a national pledge to stop building overseas coal-fired power plants and step up support for clean energy.
There are also two emerging drivers stimulating their motivation: dynamic policies from host countries and evolving market demands.
The net-advantages of renewable energy over fossil-fuel based electricity options may be minimal when solely from a financial perspective. For the policy-driven lever, as the host country establishes a national energy transition strategy and sets national climate goals, creating sector-specific decarbonization requirements, such as registration and business license permissions for captive power plants in industrial parks or allowing electricity trade across property boundaries within parks, is a key next step.
Other factors may also have an impact, such as whether tax exemptions are applied to imports of renewable energy generation equipment, such as PV panels, into host countries without manufacturing capacity. Comparative electricity price and cost are always crucial, as they directly influence the investment-return model in business decisions regarding adopting renewable energy solutions.
For the market-driven lever, there is an emerging trend where key offtakers from the end market increasingly require that their deliverables be manufactured using 100% green electricity. Several tenants in the industrial parks are upstream players in various industries (such as stainless steel and battery), supplying intermediate products (such as refined nickel, nickel sulfate) as vendors in the supply chain.
Scaling Up Broader Decarbonization Practices
Decarbonization in industrial parks will require a collaborative effort. Establishing a multi-stakeholder partnership involving policymakers from both supply and demand countries, business investors, industrial park operators and financial institutions is crucial to unlock the technical potential of renewable energy. This requires enhanced, science-based coordination and cooperation among all relevant stakeholders.
Align Decarbonization Standards Nationally and Internationally
It is highly necessary for on-the-ground practitioners to guide concrete actions, inform policy frameworks and support project-wide evaluations. On renewable energy consumption proportion, for instance, it is recommended that renewable energy account for at least 15% of the total energy consumption within industrial parks.
Prioritize Energy Planning in Industrial Park Investments
Energy planning should be at the core of industrial parks’ future market scoping, ESG portfolios and investment strategies. Building on a solid understanding of host countries’ low-carbon policies and energy transition plans, industrial parks need to integrate local power pricing mechanisms and energy supply dynamics. This process should culminate in the development of a holistic, scenario-based and time-bound energy plan — potentially including a decarbonization roadmap that replaces existing fossil fuel-based captive plants (e.g., coal or diesel) with renewable energy-based captive solutions (e.g., rooftop solar projects) — and should be fully integrated into overall investment decision-making.
Maximizing Resource and Market Opportunities
Most industrial parks are in regions with abundant renewable resources and in proximity to end markets for renewable energy products such as solar PV panels. These favorable market conditions, resource endowments and technical potential can be harnessed to foster sustainable business partnerships, viable profit models and financing package such as blended finance. Such collaborations may involve industrial park developers, tenant companies and renewable energy investors. The projects can take various operational forms, including self-consumption, partial grid connection or full grid integration.
Technical Potential Assessment of Renewable Energy Projects Developed in China’s Overseas Industrial Parks
Explore the full report.
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Develop High-Quality Project Preparation and Feasibility Studies
The process from concept to finalized investment documentation often takes longer than expected, with readiness being the key bottleneck. In this regard, renewable energy project preparation must fully meet requirements across technical, financial, and legal dimensions; ensure that cost–benefit analyses accurately capture financial flows and operational performance over a multi-year horizon; comprehensively assess the availability of financial tools and products to mitigate potential energy transition risks; and meaningfully incorporate community-level concerns throughout the process. Financial institutions can adopt tailored energy and electricity supply strategies that align with their specific priorities, including profitability, payback period, emission reductions and social impact. For example, China-Nigeria Economic and Trade Cooperation Zone is moving faster to take actions toward a clean energy transition and sustainable development with investment from the China–Africa Development Fund and support from the South-South Cooperation Fund on Climate Change.
Toward a Decarbonized Future
Industrial parks vary across a wide array of sectors, geographies and purposes, and so will their decarbonization trajectories. Whether the power is used to forge steel or manufacture fiberglass, and how much the renewable generation can be scaled will depend on multiple factors, such as economic circumstances, and governments’ policies and priorities at the national, regional and local level.
It also requires cooperation, negotiation and agreement between commercial investors, industrial parks’ operators and tenants. Feasibility can also hinge on whether renewables can supply constant enough power, to meet energy needs around the clock, and whether the companies and their customers prioritize decarbonization strategies. Nonetheless, one point is clear: industrial parks increasingly have the potential to translate their commitments into concrete low-carbon on-the-ground actions.
