China Tie-Up Pushes Wind Power in US 国电和富国银行的合作推动美国风电的发展

If a market doesn’t exist for your product, then go ahead and make one. That seems to be the hidden message in a new announcement from Guodian, one of China’s major power producers, which has signed an interesting agreement with Wells Fargo (NYSE: WFC), a leading US lender, to promote wind power development in the United States. (company announcement) Details in this announcement are thin, but the underlying message is clear: in the absence of local efforts to install more solar and wind power in North America and Europe, China is willing to step in and help to build new green energy plants in these markets to help and support its large stable of wind and solar equipment makers, who are now going through one of their industry’s worst-ever downturns. Of course, this kind of Beijing-backed effort to develop clean energy overseas is hardly selfless, and I have no doubt that the vast majority of orders for wind turbines and other equipment resulting from this Guodian-Wells Fargo tie-up will go to leading Chinese equipment makers like Xinjiiang Goldwind (HKEx: 2208) and Ming Yang Wind Power (NYSE: MY). You have to applaud the Chinese for their approach in this case, as attractive tariffs still exist in the West to make wind power a profitable endeavor. It’s just the degree of profitability that has prevented more building of wind and solar plants — something China will try to address by building the plants by itself using its power generating companies as its agents. If this tie-up works, look for more similar arrangements between Western banks and other organizations and Chinese power producers going forward, which will benefit both China’s wind and solar energy equipment makers.

Bottom line: The new tie-up between a major Chinese power producer and US lender Wells Fargo to build US wind power could be a template for China’s future promotion of green energy in the West

如果你的产品没有市场,那麽赶紧创造一个。这似乎是中国主要发电商——国电新声明中的潜藏含义。国电与美国富国银行(Wells Fargo)<WFC.N>签署了一份有趣的协议,旨在在美国推广风电开发。声明中的细节内容很少,但潜在信息却很明确:在北美和欧洲各国不愿安装更多太阳能和风力发电设备时,中国愿插手并帮助这些市场修建新的绿色能源发电厂,从而间接帮助并支持其风力和太阳能设备制造商度过该行业最严峻的衰退之一。当然,这种中国政府支持的开发海外清洁能源的努力绝非无私之举,无疑,国电和富国的合作会带来大量设备订单,其中绝大多数订单将落入新疆金风科技<2208. HK>、明阳风电<MY.N>等中国设备制造商手中。你不得不为中国人在此案中的手腕拍手称道,因西方国家依然存在很具诱惑力的优惠税率,使风电成为一个有利可图的行业。正是盈利程度才是阻碍修建更多风力和太阳能发电厂的原因。这也是中国试图解决的一个问题,中国采取的方式是让国内发电企业作为代理,自行修建发电厂。如果国电和富国的这种合作行之有效,那麽西方银行和其他机构与中国电力供应商之间的类似协议还会有更多,且中国的风力和太阳能设备生产商也会从中受益。


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