China wind and solar industry to get $127 million funding from European Investment Bank

By Editor


Greentech Lead China:
The European Investment Bank announced it may offer 96 million euros ($127
million) in funding to wind farms and solar power in China as part of its
initiative to boost cooperation with the country.

As part of this, the European Union lending arm is planning
to offer a 70 million- euro loan for two wind farms with 99 megawatts of
capacity in Chongqing province and a 26 million-euro loan for a 20-megawatt
solar plant in Shaanxi.

Ninety percent of the EIB loan volumes go to EU countries
though it has mandates to lend elsewhere to Asia, Latin America and Africa. The
bank agreed to a 500 million-euro program to China, the Climate Change
Framework Loan II, for clean-energy projects in 2010.

The loan must be approved by the EIB board and a finance
contract signed before the funds can be disbursed, according to officials of
the bank.

Solar industry revenue to drop to $92 billion in 2012 from $110
billion in 2011

Global solar industry revenue is expected to drop to
$92 billion in 2012 from $110 billion in 2011 due to crashing prices,
according to a recent Lux Research report.

Emerging markets will be both a battleground for suppliers
and a source of great strength with South Asia accounting for the majority of
growth, rising from 1 GW in 2011 to 4.5 GW in 2017. However, ASEAN, Africa and
South America take the reins from 2017 to 2022, hurtling toward gigawatt

Utility-scale application segment grows. In large
emerging markets like China, utility-scale solar will gain as conditions favor
fewer, larger-scale projects that allow more control over financing and
regulatory factors. This segment will grow from 6.3 GW globally in 2011 to 13.8
GW in 2017.

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