China to Compile List of Solar Projects Qualifying for Financing
China, the world’s biggest solar market, plans to compile a list of solar projects that will get financing from China Development Bank Corp.
Recommendations from provincial authorities are due by April 2. Projects to be considered include research and development, technology upgrades, mergers and acquisitions, and overseas development, according to a statement posted on the website of the Ministry of Industry and Information Technology yesterday.
The move is the latest by the government to support the industry after record installations last year. China added 12 gigawatts of solar power in 2013, almost matching the equivalent amount in the U.S., according to data compiled by Bloomberg.
“This is the first time the government has provided systematic support over the industry from manufacturing to the downstream,” Wang Xiaoting, a Beijing-based analyst from Bloomberg New Energy Finance, said today by phone. Most top manufacturing companies, including GCL-Poly Energy Holdings Ltd. (3800), Trina Solar Ltd. (TSL) and Yingli Green Energy Holding Co. (YGE), will benefit, she said.
Companies should have shipped at least 1,500 metric tons of polysilicon last year or 400 megawatts of either solar wafers, solar cells or modules. Gross margins should be higher than 10 percent in the fourth quarter of 2013, according to the statement.
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