Articles from Asia
The company also warned that its income tax holiday and equipment warranties are nearing expiry and will thus mean added tax and maintenance costs that will have to be paid. Selling to the wholesale electricity spot market, meanwhile, will cause the financial profile of NorthWind to turn "dire" as power sells here for at a lower P3.74/kWh on average.
The annual growth rate of China's installed wind capacity is set to slow down, said Shi Pengfei, vice-president of China Wind Energy Association (CWEA). ...Now, the grid has become a bottleneck for the expansion of the Chinese wind power industry.
As exciting as alternatives may seem, the answer to Japan's future energy needs is likely to come from more traditional sources, according to Ivo Bozon, a leading energy analyst at McKinsey & Company. "It takes a long-term commitment to get the scale necessary in renewables to produce meaningful amounts of the power ...There are physical limits on renewable energy."
The problem has largely been caused by the recent rapid growth in wind energy in China coupled with the extensive power grid upgrades that are needed to transmit wind energy to consumers. ...China plans to get 15 per cent of its energy from non fossil fuels by 2020, with wind power expected to contribute two per cent and solar one per cent.
While the Liberals insist it's all about clean energy, a recent article in a British newspaper shows wind turbines are anything but green. A story by Simon Parry and Ed Douglas in the Daily Mail, Jan. 29, describes a horrific toxic stew brewing in China as a result of our search for the great, green holy grail.
The reality is that, as Britain flaunts its environmental credentials by speckling its coastlines and unspoiled moors and mountains with thousands of wind turbines, it is contributing to a vast man-made lake of poison in northern China. This is the deadly and sinister side of the massively profitable rare-earths industry that the ‘green' companies profiting from the demand for wind turbines would prefer you knew nothing about.
Chinese wind turbine maker Sinovel Wind Group Co slumped by nearly 10 percent in its Shanghai trading debut on concerns its stock is overpriced and that rising competition will slow its earnings growth. ..."And wind stocks are no longer that attractive to investors."
Three workers have been killed while installing and testing a Sinovel wind turbine in northern China. ...The accident follows a recent announcement by China's National Energy Bureau (NEB) that it is launching an investigation into whether cost cutting has led to a fall in safety standards.
The green agenda is still moving forward, but it is clear that in Europe it has become more challenging because of fiscal constraints," he told the Financial Times. Growth in new wind energy installations in Europe is forecast to shrink from 14 per cent in 2010 to 1 per cent this year, according to analysts at Citigroup. ...Vestas warned that, while 2010 was set to finish stronger than previously expected, revenues and profits were likely to be flat this year.
Datang Renewable Power Co., the wind power unit of China Datang Corp., raised a blustery 4.8 billion Hong Kong dollars ($617 million) on the Hong Kong Stock Exchange in an initial public offering Dec. 17. But the final issue price of HK$2.33 per share scraped the bottom of the indicative range raised fears that wind-energy investing in China is drifting in the doldrums.
The United States has requested the consultations concerning China's program known as the Special Fund for Wind Power Manufacturing. Under this program, China appears to provide subsidies that are prohibited under WTO rules because the grants awarded seem to be contingent on Chinese wind power equipment manufacturers using parts and components made in China rather than foreign-made parts and components.
Huaneng Renewables, the wind power subsidiary of China's leading power producer，China Huaneng Group, pulled its December 16 Hong Kong IPO plan because of insufficient investor support to reach the minimum subscription, and this shows investors are losing enthusiasm for China's wind farms.
Judging by the din at its factory here one recent day, the Spanish company Gamesa may seem to be a thriving player in the Chinese wind energy industry it helped create. But Gamesa has learned the hard way, as other foreign manufacturers have, that competing for China’s lucrative business means playing by strict house rules that are often stacked in Beijing’s favor.
Huaneng Renewables Corp, which holds among China's largest wind assets, pulled its up to $1.28 billion initial public offering as a stalemate at the U.N. climate talks and a weak Hong Kong market hurt investor appetite.
"At present, no one is willing to speak publicly about the problems of wind turbines. This is unfavorable to solving the problem. Actually, foreign turbines met similar problems when they entered the Chinese market. By investigating the quality of wind turbines, NEB is facing the problem."
While Friedman and others bally-hoo China's investments in green energy, Beijing is rapidly expanding its investment in fossil fuels. Michael Economides, an energy expert at the University of Houston, wrote recently on Forbes's website of the "utterly massive level of spending that the Chinese have embarked upon in pursuit of expanding their traditional energy portfolio."
Hours after the Office of the United States Trade Representative announced an investigation into China's support for makers of wind and solar energy products, advanced batteries and energy-efficient vehicles, the Treasury Department said it would delay its semiannual report on foreign-exchange rates.
The wind-power boom on the mainland in recent years had left behind quality "time bombs" that could blow up the industry's long-term growth. Some turbines installed three or four years ago have already begun to show signs of ageing, with issues ranging from oil leaks and gearbox malfunctions to blades snapping, Gao said. They were supposed to last for a decade with little maintenance.
The poor performance comes as Asian governments are pumping vast amounts -- spending exceeded $39 billion in 2009, with China accounting for the bulk of that -- into renewable energy and other environment-related projects. It may mean that companies in the business will find it harder to attract new capital. A third of the 20 worst-performing Japanese funds this year are green funds.
Orient Green Power (OGPL) has ambitious plans to grow in the renewable energy industry in India. With huge unmet power demand in the country and fiscal incentives in place, the scope to grow is immense. However, the company is suffering from losses and is overly dependent on its parent group companies. Also, wind and biomass power plants have their own risks.