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COP30: China’s Green Energy Power Play — How a Laos Wind Farm Reveals Its Global Strategy

In the remote hills of Dak Cheung, southeastern Laos, a vast new wind power project is quietly reshaping both the region’s energy landscape and the global balance of power.

The Monsoon Wind Power Project, the largest in Southeast Asia, features 133 towering turbines stretching across an area twice the size of the Isle of Wight. It promises to deliver electricity to around one million households in neighboring Vietnam, marking a remarkable feat of engineering in one of Asia’s poorest regions.

Yet, while the site is led by a Thai consortium, its backbone is unmistakably Chinese — built by a state-owned Chinese company, using Chinese technology, and completed at record speed and low cost.

“It makes the project viable,” said Narut Boakajorn, the site’s general manager. “Otherwise, financing would not have been possible.”

This wind farm is a microcosm of China’s global dominance in green energy. The country now produces over 60% of the world’s mass-manufactured green technologies, including 80% of solar panels and 75% of electric vehicles, according to the International Energy Agency. Analysts estimate Chinese clean energy exports in 2024 alone could cut global carbon emissions by 1%.

But Beijing’s motivations go beyond climate stewardship. As China simultaneously builds coal plants and renewable infrastructure, its rapid green expansion looks more like a strategic bet on the future of global energy markets — and influence.

Developing nations like Laos, often enticed by low-cost technology and financing, have become the front line of this new form of soft power. While Laos’ wind project avoided the debt traps seen elsewhere, the country has already ceded control of most of its power grid to a Chinese firm amid financial struggles.

The symbolism is striking: in the same mountains once bombed by the U.S. during the Vietnam War, China is now building turbines — a new kind of influence rising from the ashes of an old one.

Iran’s Nobitex Crypto Exchange Hit by Hackers, $90 Million in Funds Destroyed

A powerful anti-Iranian hacking group known as Gonjeshke Darande (Predatory Sparrow) claimed responsibility on Wednesday for a devastating cyberattack on Nobitex, Iran’s largest cryptocurrency exchange. The attack allegedly destroyed around $90 million in digital assets and threatened to leak the platform’s source code.

This marks the group’s second strike in two days, following an earlier operation targeting Bank Sepah, a state-owned Iranian bank. The campaign comes amid escalating tensions and missile exchanges between Israel and Iran.

The hackers claim Nobitex aids the Iranian regime in evading sanctions and financing militant groups, including Hamas, Palestinian Islamic Jihad, and Yemen’s Houthis. Blockchain forensics firm Elliptic confirmed these ties in a blog post, noting that funds had been exchanged between Nobitex and wallets linked to those entities.

Early Wednesday, funds were transferred from Nobitex to hacker-controlled wallets displaying anti-IRGC (Islamic Revolutionary Guard Corps) messages. Analysis by TRM Labs and Chainalysis confirmed that approximately $90 million in cryptocurrency was irretrievably “burned” in the operation, meaning the attackers intentionally rendered the assets inaccessible as a political statement.

Elliptic noted that the structure of the hacker wallets ensured that even the attackers could not access the stolen assets.

Nobitex confirmed in a post on X (formerly Twitter) that it had taken its website and app offline due to “unauthorized access.” Its Telegram support channels did not respond to inquiries.

The cyberattack adds to a growing list of high-profile hacks by Predatory Sparrow, which has previously disabled Iranian infrastructure, including gas stations and steel mills. Though Israel has never officially claimed the group, its operations are widely considered to align with Israeli cyber interests.

Senators Elizabeth Warren and Angus King recently highlighted Nobitex’s suspected role in Iranian sanctions evasion in a letter to the Biden administration, citing prior Reuters investigations from 2022.

Cybersecurity experts warn that this breach could further inflame geopolitical tensions while demonstrating the increasing use of blockchain technology in modern cyber warfare.

Eutelsat Meets Revenue Forecasts as OneWeb Gains Government Clients Amid Geopolitical Shifts

Eutelsat reported 300 million in third-quarter revenue for its 2024–25 fiscal year, slightly below last year’s figure but in line with analyst expectations. The French satellite operator, which owns OneWeb, the world’s second-largest low-Earth orbit (LEO) satellite constellation, is seeing a rise in government demand for secure, non-American and non-Chinese satellite services.

Key Financials:

  • Q3 revenue fell 1.9% year-on-year

  • Analyst consensus was 302 million, with estimates ranging from €294 million to €307 million

  • Government services revenue rose 10.2%, the fastest-growing segment, fueled by geopolitical demand for independent satellite connectivity

Strategic Positioning:

Eutelsat’s OneWeb network, with over 600 LEO satellites, offers secure broadband services to governments and militaries at approximately 1,200 km altitude. This positions it as a European alternative to SpaceX’s Starlink, which has over 7,000 satellites and deep traction with commercial clients.

Eutelsat CFO Christophe Caudrelier emphasized the strategic importance of non-U.S. and non-Chinese alternatives in satellite communication:

With the current geopolitics, there is interest from many countries… Many non-aligned countries are seeking alternative, non-American, non-Chinese solutions,” he stated.

Challenges & Developments:

  • The company experienced a drop in its U.S. Department of Defense contract renewal rate to 50%, citing structural changes in U.S. spending under President Donald Trump’s administration. Without that one-off, the renewal rate would have been closer to 70%.

  • Eutelsat also took a 16 million revenue hit due to EU sanctions requiring the cessation of Russian channel broadcasts.

  • The firm is actively seeking new capital investors to support its future financing needs.

Despite the recent CEO replacement, Eutelsat reaffirmed its full-year outlook, signaling stability in operations as it navigates market transitions and growing demand for secure satellite services from non-aligned nations.