Beijing Warms Up Solar Sector 中国政府向太阳能产业伸出援手

Beijing is coming to the assistance of its solar energy manufacturers, now suffering through a major downturn due to a sudden cool-down in global sales. In one of two significant developments, the Chinese media are reporting that Beijing will give as much as $100 million to build new solar power plants in Africa, providing sorely needed sales for its domestic manufacturers that now supply more than half the world’s solar cells. (English article) On the same day that news appeared, debt-laden LDK Solar (NYSE: LDK) also announced it has just obtained $240 million in much-needed funding by selling a stake in its polysilicon business to a group led by two Chinese state-controlled banks, China Development Bank and China Construction Bank (HKEx: 939; Shanghai: 601939). These two developments come just a week after another player, Yingli Green Energy (NYSE: YGE) announced it had received a $180 million loan from another group of state-controlled banks. (previous post) This kind of support from Beijing is critical for its solar players, who have seen prices and margins drop sharply in recent weeks amid one of the industry’s most rapid downturns as many Western markets faze out incentives to install new solar plants that were introduced at the height of the global financial crisis. To pick up some of the slack, China is also quietly working on a plan to significantly boost incentives at home to build more solar power plants. (previous post) Look for more of this kind of support in the months ahead, as Beijing tries to keep this carefully nurtured but currently struggling sector from sliding into crisis.

Bottom line: Look for a steady stream of lifelines from Beijing to its struggling solar sector in the months ahead, including new financing and building of new power plants.

因全球行业销售骤减，中国太阳能产品制造商受到重创，中国政府如今正向他们伸出援手。其中的一个重大举措是，据中国媒体报导，中国政府将提供1亿美元，在非洲建设新的太阳能电厂，为国内太阳能电池制造商开拓市场。这个新闻出来的同一天，负债累累的江西赛维LDK太阳能<LDK.N>也宣布，公司刚刚通过向国家开发银行和中国建设银行<0939.HK><601939.SS>牵头的财团售出其多晶硅业务的部分股权，筹得 2.4亿美元的急需资金。而一周前，英利绿色能源<YGE.N>宣布从另一批国有银行那里获得了1.8亿美元贷款。对於近几周来受国际市场环境恶化影响，产品售价和利润都大幅下跌的中国太阳能厂商来说，北京的这次支持可谓一场及时雨。中国政府还默默地在国内推行一项激励计划，以大大鼓励国内建设太阳能电厂。预计中国政府在未来几个月还会出台更多类似扶助措施，以免这块小心培育但现况不佳的行业滑入危机。

一句话：预计中国政府未来几个月会持续推出扶助太阳能产业的举措，包括提供新融资和建设新电厂。

Related postings 相关文章:

◙ China Comes to Rescue With Yingli Loan 英利获贷款承诺 政府终出手相助

◙ Italian Cloud Casts Shadow on Solar Sector, Pressures Beijing 意大利阴云笼罩中国太阳能产业

◙ China Boosts Solar Firms with Power Plan 中国太阳能产业荣景可待