China To Quadruple Solar Generating Capacity By 2015

July 15, 2013

China aims to more than quadruple solar power generating capacity to 35 gigawatts by 2015 in an apparent bid to ease a massive glut in the domestic solar panel industry.

The target has been stated previously by the State Grid, which manages the country's electricity distribution, but now has the official backing of the State Council, the country's cabinet and its top governing body.

China will add around 10 GW per year from 2013-2015, the State Council said in a statement.

If met the increase in solar power generation would benefit not only domestic panel producers like Suntech Power Holdings Co Ltd and LDK Solar Co Ltd, but also manufacturers globally who have struggled against a flood of cheap Chinese exports. Both Europe and the United States have launched anti-dumping duties against China's solar panel exports.

Copyright, Reuters, 2013.