18 Dec '12, 3pm

Asia Report: China Solar Shares Soar as Government Bails Out Sector

Asia Report: China Solar Shares Soar as Government Bails Out Sector

News of further financial support came after Xinhua reported China may double its upper limit for solar power capacity to 40 GW by 2015. Elsewhere, the Shanghai Securities News said officials may double their target for solar installations, while China’s Ministry of Science and Technology confirmed subsidies for more than 100 developers with a combined capacity of 2.8 GW. The payouts, under the Golden Sun program, are the second round announced this year. Stocks to benefit included Trina, Yingli, JA Solar and LDK, as the actions rescue the biggest solar-panel manufacturers and their suppliers after a glut of capacity depressed prices and profits worldwide. In recent weeks, the government also extended loans to the industry through China Development Bank and allowed local authorities to extend support. "What Beijing is doing is essentially trying to replace the diminished e...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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