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Chinese Renewable Energy Firms Encouraged to Invest in US

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A senior official of China's National Energy Administration (NEA) encouraged Chinese firms to invest in the renewable energy market of the United States to boost their competitiveness in the international market.

The statement was made by Wang Jun, head of the department of new energy and renewable energy at the NEA, during the wind power section at the China-US Renewable Energy Investment Forum, also attended by officials from the US Department of Energy and the Department of Commerce.

"While a number of US companies are establishing firms manufacturing wind turbines, bearings and current converters, thus making China an important part of their global business, the US wind power market remains relatively unknown to Chinese firms," said Wang.

He noted that the US wind power market has great potential but is short of funding in the wake of the international financial crisis. However, there remains opportunities for many Chinese wind power enterprises with strong expertise and funding.

Wang also identified the lack of knowledge about rules for operating in the US market rules, regulations, policies and financing channels about renewable energy investment, as barriers for Chinese firms to enter the US market.

(Xinhua News Agency December 7, 2010)


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