Economics
Survival of Fittest in Green Energy Shows Workout: China Credit
This article is for subscribers only.
A survival of the fittest struggle is emerging as China’s renewable energy industry faces a record $7.7 billion in bonds maturing this year.
Yields are declining on Xinjiang Goldwind Science & Technology Co. notes as the nation’s biggest turbine maker raised profit forecasts, while shares of Trina Solar Ltd. have tripled in the past year as pollution curbs buoyed demand for solar panels. By contrast, LDK Solar Co. is heading for a second default on overseas debt this week, while Suntech Power Holdings Co. filed for bankruptcy protection in U.S. courts.