Chinese funding fuels China's global push in wind and solar energy
When A-Power Energy Generation Systems secured a deal to supply turbines for a U.S. wind farm project in October, the little-known Chinese firm had an ace up its sleeve to help it clinch the deal. A-Power was armed with $1.5 billion in financing from state-run Chinese banks to fund the 600 megawatt project in Texas. While global peers have limited access to cheap state loans, Chinese renewable energy firms are getting a boost from Beijing as they win clean technology projects around the world. Much of that is via low-interest loans from big state banks for their clients to finance their purchases.
[…] commitment to solar and wind energy has been amply demonstrated. With several of its most populous cities located on coastline, China […]
[…] to a report recently released by the Pew Charitable Trusts, China is leading the world in clean energy investments as of 2009. The report examined the financing and investment strategies of the "Group of […]
[…] U.S., where the solar industry can only get limited financing due to the current credit crisis, the Chinese government has provided abundant financing for green projects. They have been so aggressive, in fact, that attempts are underway by the Chinese government to […]
[…] U.S., where the solar industry can only get limited financing due to the current credit crisis, the Chinese government has provided abundant financing for green projects. They have been so aggressive, in fact, that attempts are underway by the Chinese government to […]
[…] the U.S. and China spent hundreds of millions in stimulus last year. Of that, China outspent the U.S. 10-to-1 on green energy. China has 30 percent more efficient cars on the road, as well as the […]
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