China's PV plants hungry for financing
Updated: 2014-03-17 10:21
(Xinhua)
|
|||||||||||
|
A female Chinese worker examines a solar panel to be exported to Europe at the plant of Shanghai Shenzhou New Energy Development Co Ltd in Ganyu county of Lianyungang, Jiangsu province, Feb 8, 2014.[Photo/dfic.cn] |
BEIJING - The road is destined to be bumpy for China's slowly recovering photovoltaic (PV) sector as power stations face a capital crunch, with banks reluctant to lend due to fears over risk.
Industrial analysts warned of a huge funding gap in PV power station development as a result of incomplete financing support.
|
|
Cai Ning, president of Shanghai Ronglian Finance Leasing Share Co, mainly attributed the capital shortage to lagging financial aid despite strong official support policies. Most banks are still hesitant to lend for the construction of PV power stations, although the sector is reviving.
The only exception is National Development Bank, a State-owned bank focused on serving the national economic strategy.
The "wait-and-see" sentiment has permeated the market, as there is no effective risk management tool for the sector, said Zhang Yuan, senior manager with TGD Holding Co, a new energy technology service provider.
According to the government's plan, China's annual new PV power installation stood at around 10 gigawatts from 2013 to 2015, with total volume predicted to reach 35 gigawatts by the end of next year.
China's dampened photovoltaic market has shown signs of heating up as a majority of listed solar cell producers have posted profits in their 2013 annual financial reports or made optimistic forecasts in preliminary statements thus far.
Related Stories
Solar panel makers look downstream for better earning 2014-01-29 08:45
Solar firm weathers storm with sound principles 2013-12-25 09:20
New policy boosts construction of solar plants 2013-09-13 16:21
China to subsidize PV power units 2013-08-31 08:14
Exports of Chinese PV products plummet in H1 2013-08-12 08:51
PV companies strive to survive China-EU dispute 2013-06-24 10:02
Today's Top News
US rejects Crimean vote, citing sanctions
Probe focues on missing jet's pilots
Source: Vodafone to buy Spain's Ono
Crimea votes to join Russia
Alibaba opts for IPO in US
Stronger police presence urged
Crimea kicks off referendum
G8 prepares expulsion of Russia
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Missing plane puzzle remains unsolved |
Modern merchants follow Silk Road |
Doubts linger over warning system for smog |
Is civil service losing luster? |
Special coverage on missing jet |
Mene slims amid austerity |