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Solar Energy stocks surging

Solar stocks surged 9.8 per cent on the WilderHill New Energy Global Innovation Index

Big week for solar and wind power, The Age December 19, 2012 –  China gave some solar companies an early Christmas present last week, as it selected the second batch of projects – some 2.9GW – under its Golden Sun subsidy programme.

Yingli was a big winner, boosting its share value 31.5 per cent last week. Separately, JinkoSolar won $US1 billion backing from the China Development Bank, propelling it to a six-month high.

There was also news flying around that China may increase its 2011–15 solar target from 21GW to 30–40 gigawatts. The country will introduce a new feed-in tariff early next year, offering production-basedremuneration, as opposed to the capital grants awarded under GoldenSun.

Solar stocks surged 9.8 per cent on the WilderHill New Energy Global Innovation Index, or NEX. The week’s biggest gainer was not actually a
Chinese firm, but Norwegian solar manufacturer Renewable Energy
Corporation, adding 56.5 per cent as it earned a “buy” rating from
Swedbank. Chinese solar companies Trina and Yingli were the next best
performers, climbing 33.5 per cent and 31.5 per cent
respectively……
There were more orders for Chinese solar manufacturers. Suntech will
ship 100MW to South Africa for two projects being built by a
Mainstream Renewable Power-led group. The China-based solar unit of
South Korea’s Hanwha also signed an agreement to supply 155MW of
panels to two other projects in South Africa. The Letsatsi and Lesedi
projects will be built by Spain’s Grupo Gransolar and Cobra
Instalaciones y Servicios along with a local company.

New clean energy markets have emerged in the Middle East this year,
and last week Iraq said it plans to award 150MW of capacity for wind
and solar projects in 2013. The country will seek to add 450MW over
the next five years.
Cheap wind

In another emerging market, developers offered to build wind farms at
the cheapest rates ever. Brazil awarded contracts to Enerfin, Renova
Energia, EGP and Bioenergy Geradora de Energia for 281.9MW of wind
capacity at an average price of BRL 87.94 ($40) per megawatt hour.

Read more: http://www.theage.com.au/business/carbon-economy/big-week-for-solar-and-wind-power-20121219-2blph.html#ixzz2FWilmoEV

December 19, 2012 - Posted by Christina Macpherson | 2 WORLD, renewable