Longyuan Leads Declines as China Eyes Solar, Wind Price Cuts
- Solar tariffs may be reduced by at least 23% from 2017: report
- China may cut offshore wind prices by as much as 6.7%: report
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China Longyuan Power Group Corp., the nation’s biggest wind-farm operator, fell in Hong Kong, leading declines in clean energy stocks after a report said China plans to cut the rates it pays out to developers of solar and wind power.
The stock slumped 9.1 percent, the biggest drop since March 2014, to close at HK$6.30 on Friday. Concord New Energy Group Ltd. dropped 11 percent, while Huaneng Renewables Corp. lost 10 percent.