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China’s Wind Power May Grow After Japan Quake, Shenyin Says

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March 17 (Bloomberg) -- China’s wind-power industry may grow faster than market consensus because the Chinese government has suspended approval of new nuclear projects following radiation leaks at a plant in Japan following the March 11 earthquake, according to Shenyin & Wanguo Securities Co.

Wind power can partially replace nuclear power as an alternative energy, Li Xiaoguang and Qi Qi, analysts at the Shanghai-based brokerage, wrote in a report today.

The photovoltaic industry and makers of power transformers may benefit as well, as the country steps up construction of power grids to transmit electricity from the northwest region, according to the report.

The brokerage recommended shares of Xiangtan Electric Manufacturing Co., Xinjiang Goldwind Science & Technology Co. and China XD Electric Co.

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To contact the editor responsible for this story: Bloomberg News at gturk2@bloomberg.net

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