April 10 (Bloomberg) -- Baoding Tianwei Baobian Electric Co. and Xinjiang Goldwind Science & Technology Co. are among Chinese renewable energy stocks that jumped as the government announces plans to bolster the use of alternative energy.

Tianwei Baobian, which makes solar-power cells, gained 4.6 percent to 38.16 yuan at the close on the Shanghai Stock Exchange, the highest since June 3. Xinjiang Goldwind, the country’s biggest maker of wind turbines, surged 9.6 percent to 42.95 yuan in Shenzhen, its highest since July 3, while Shenzhen Topraysolar Co., a manufacturer of solar products, climbed 8.6 percent to 32.88 yuan.

China is drafting a stimulus plan for the domestic renewable energy industry, said an official with the Chinese Renewable Energy Industries Association.

“Experts are consulting opinions from companies now,” Ma Lingjuan, a project manager with the Beijing-based association, said by telephone today. “The draft is expected to be released soon.”

The nation aims to boost usage of renewable energy to 10 percent of total energy consumption by 2010 from 7.5 percent in 2005, the National Development and Reform Commission, China’s top economic planner, said March 2008. Solar power capacity will rise to 300,000 kilowatts from 70,000 kilowatts.

The government last month said it would pay a subsidy for solar power projects. China, the world’s second-biggest consumer of energy, derives 80 percent of its electricity from burning coal.

“The government will keep working out development plans on renewable energy this year because of the shortage of fossil energy,” said Pan Hangjun, an analyst at Central China Securities Holdings Co. in Shanghai.

To contact the reporter on this story: John Liu in Shanghai at jliu42@bloomberg.net

Last Updated: April 10, 2009 04:50 EDT