Green Energy News
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Suntech Power Holdings Co. tumbled, leading a slump in Chinese equities traded in New York, on concern the European Union will impose import duties on China’s solar products.
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The European Union is poised to penalize imports of Chinese solar products, a move that would increase Europe’s cost for most photovoltaic panels an estimated 45 percent overnight.
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Most Chinese stocks fell as declines by technology shares and power producers overshadowed gains among property and consumer-staples companies. Price swings on the Shanghai Composite Index dropped to a five-month low before the release of a manufacturing gauge tomorrow.
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Tesla Motors Inc., labeled a “loser” by Mitt Romney during the U.S. election, is giving President Barack Obama’s green-energy strategy its biggest win after almost two years of failures pounced upon by Republicans.
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Yingli Green Energy Holding Co., the largest solar-panel maker, rose the most in six weeks after saying first-quarter shipments will exceed its previous forecast.
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Chinese stocks retreated in New York from the highest level in three months, led by Huaneng Power International Inc., as concern increased over a slowdown in Asia’s largest economy after UBS AG cut its growth forecast.
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Japan Asia Group Ltd., a developer of clean energy projects, said plans to develop 500 megawatts of solar projects in Japan are moving ahead while it considers trimming European operations.
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Technology to trap carbon emissions from coal- and gas-fired power plants and store it underground has the potential to be cost-competitive with other green energy in the U.K. by the early 2020s, a government adviser said.
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Argentina has filed a challenge against the European Union with the World Trade Organization amid signals the trade bloc may limit biodisel exports from the South American nation.
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Chinese equities retreated in New York from the highest level in three months, led by Aluminum Corp. of China Ltd., after investment in the nation’s fixed assets and industrial output trailed economists’ estimates.
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