BIZCHINA / Overseas Investment
Solar energy giant in China
By Wang Zhenghua (China Daily)
Updated: 2007-05-23 11:03
SHANGHAI: Germany-based Conergy AG, a leading solar energy company in
Europe, is looking to tap China's nascent renewable energy market as the
nation charts out an ambitious plan for clean energy.
Along with its flagship company SunTechnics, also a renewable energy
solutions provider, Conergy launched its China business office on Monday
in Shanghai, which will act as the "focal point" for its activities to
develop the market in China.
The company estimates that by 2015, renewable energy will evolve into a
market of over $300 billion across the world, with much of it coming from
China as the country needs more energy supplies to support its breakneck
economic growth.
The combination of policies and energy trends point to an increasing
demand for renewable energy solutions and business potential for Conergy
Group in China, said Vedat Guergeli, managing director of Conergy
Asia-Pacific operations.
"The Chinese government is putting strong emphasis on urban sustainable
development," he said.
With a growth rate of more than 30 percent annually, the Asian market for
renewable energy is one of the most promising in the world, with China
being an important part of that growth.
Conventional power generation capacities alone won't be able to keep pace
with the fast economic growth and rising energy demand. According to the
government, electricity generated by renewable energy will become a
significant alternative, contributing over 15 percent by 2020 to the
country's supply and 30 percent by 2040.
Large-scale construction projects in the future will be realized with
solar energy and grid-connected photovoltaic installations, which the
company provides.
"Building integrated photovoltaic technology (BIPV), which integrates the
solar module aesthetically into the building's facade, is particularly
well-suited for China's fast-growing cities that will be showcased during
the Beijing Olympics and EXPO 2010," Guergeli said.
"We have seen our revenue double each year between 2003 and 2005," said
Matthew Thornington, regional head of Conergy's Asia-Pacific operations.
"We expect the 2007 revenue to be over 1 billion euros."
Since last June, the company has been rapidly expanding across
Asia-Pacific and now has offices in Singapore, South Korea, India,
Australia, Thailand and Malaysia.
(China Daily 05/23/2007 page14)
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