Making money on China's alternative energy push
China is set to spend $200 billion on alternative energy investments:
China is set to spend $200 billion on renewable energy over the next 15 years, and industry players are racing to grab a slice of the action.
That kind of money would buy you an oil firm the size of Chevron and leave change to fund the current renewables programs of all Europe's top oil firms for 25 years.
So from the arid plains of Xinjiang to the rolling hills of sub-tropical Guangdong, Chinese and foreign firms are erecting 40-storey wind turbines, installing solar panels, and conducting tests on corn for biofuel.
Beijing wants a tenth of its energy to come from environmentally friendly sources by 2010 -- a desire driven by soaring air pollution and chronic environmental degradation that is swelling medical bills and provoking discontent.
Projects will need turbines, blades and other power components, which is why General Electric Co., Vestas Wind Systems and Gamesa, as well as homegrown firms China Solar Energy Holdings Ltd. and Suntech, are expanding capacity in the country.
"Renewable energy will likely become China's next boom sector with oil at historical high prices," said Norman Ho, a fund manager at Value Partners, which has invested in Chinese wind energy components supplier Nanjing Gearbox.
"China needs energy to support its GDP growth."
end (alternative energy blogspot.com)
A huge wall of demand is waiting to be satisfied in China that will extend well into the future both for Solar and other forms of alt. energy..Suntech knows whats happening and have already stamped its presence in shanghai and will no doubt continue to invest heavily in China.
Im very excited about the new sales contracts to be signed off. Its speculation about who the customers are but I suspect Motech and Suntech will be at the front of the queue for further wafer supplies. If SOLA can get either of these two to invest into SOLA itself then what a coup that would be.
apologies for over-posting but stayed in and saving myself for tomorrow..hick
Renesola stock quotes
Renesola stock charts
Follow this thread
