Shares in one of China’s biggest renewables firms almost tripled in value on its public debut.
The company warned of “irrational speculation,” in a sign of recovering interest in China’s equity markets. Underlying the surge, however, is the growing global buildout of renewables as electrification and the AI data center expansion push up power usage worldwide.
Battery startups in particular are seeing “crazy” demand, the Financial Times reported, with data centers needing to smooth out power fluctuations caused by AI computing.
The increased interest is also raising consumer prices, and US home battery installations are at a record high as homeowners look to buy power at cheap off-peak rates, or store daytime solar to use when prices are higher.
