China's solar attic fan power capacity to rise to 860 GW at yr end

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China's power capacity to rise to 860 GW at yr endPublished: 05 Feb 2009 00:55:25 PST

Author: Jim Bai,Ken Wills

BEIJING, Feb 5 (Reuters) - China's installed power generating capacity is likely to increase to a record 860 gigawatts (GW) by the end of the year, forecasts from the China Electricity Council showed.

This would be 9 percent higher than the level at the end of 2008.

Generation capacity would also be sufficient to meet estimated power demand, a report from the council was quoted as saying by the China Power News Net (www.cpnn.com.cn), a website run by an official industry newspaper.

Installed capacity gained 10.3 percent to 790 GW at the end of 2008 after rising 14.6 percent in 2007.

Growth in China's power consumption sank to an 8-year low of 5.23 percent last year as factories scaled back production or shut down operations due to diminishing orders.

The growth rate is expected to remain more or less the same in 2009, according to the council, an industry group regulated by the State Electricity Regulatory Commission.

However, the government should continue to arrange sizable power investment to meet future power demand, the council was quoted as saying in the report.

Zhang Guobao, China's energy chief, said on Tuesday that the country would invest 580 billion yuan ($84.88 billion) on power projects this year.

The amount would be roughly the same as the 576.3 billion yuan in 2008, which was up 1.52 percent from the level in 2007, according to data from the electricity council. ($1=6.833 Yuan)

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China's PHOENIX CONNECTOR steel sector requests more support to boost demand

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China's steel sector requests more support to boost demandPublished: 24 Feb 2009 22:20:25 PST

Feb. 24, 2009 (China Knowledge) - More measures are needed to restore China's steel demand since no clear sign of recovery has appeared, said an official from China Iron and Steel Association (CISA) on Tuesday.

The steel output for 2009 will rely heavily on the domestic economic situation in the second half of the year since steel exports may continue to decline amid the worsening financial crisis, said Luo Bingsheng, vice chairman of CISA.

Steel exports in 2008 dived 5.5% year on year to 59.23 million tons, according to the General Administration of Customs.

China produced 500.48 million tons of steel last year, up 1.13 % over 2007, with a growth rate 14.5% lower than in 2007. Luo forecasted an output of 490 million to 500 million tons for 2009.

Last month the Chinese government approved a stimulus packages for the steel industry. The details will be released soon, sources reported.

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INTERVIE magnetic pump W-China's Suntech says '09 output to rise 60 pct

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INTERVIEW-China's Suntech says '09 output to rise 60 pctPublished: 17 Feb 2009 01:49:19 PST

BEIJING, Feb 17 - China's Suntech Power, theworld's largest solar module maker, said on Tuesday it expectedproduction to rise 60 percent this year to at least 800megawatts, despite a slowdown in bank lending to the sector.

Shi Zhengrong, the founder and chairman of Suntech PowerHoldings Co, said, however, that the financial crisis wasaffecting his industry, leading to a 20 percent cut in pricessince the third quarter of last year.

"We have already signed over 600 megawatts of contracts withour European customers," Shi told Reuters in a telephoneinterview.

"We are still aiming for at least 800 megawatts ofproduction for this year," he said. The entrepreneur saidproduction was about 500 megawatts last year.

Suntech, which makes the panels that turn sunlight intoelectricity, expects full-year 2008 revenues of between $1.91billion and $1.93 billion.

Financing for new renewable energy products has becomedifficult as banks around the world have tightened lending amidthe worst economic slowdown in decades.

"Prices have already fallen 20 percent from Q3 last year,"he said, referring to the third quarter, but he added thatprices have since stabilised.

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INTERVIE magnetic pump W-China's Suntech says '09 output to rise 60 pct

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INTERVIEW-China's Suntech says '09 output to rise 60 pctPublished: 17 Feb 2009 01:49:19 PST

BEIJING, Feb 17 - China's Suntech Power, theworld's largest solar module maker, said on Tuesday it expectedproduction to rise 60 percent this year to at least 800megawatts, despite a slowdown in bank lending to the sector.

Shi Zhengrong, the founder and chairman of Suntech PowerHoldings Co, said, however, that the financial crisis wasaffecting his industry, leading to a 20 percent cut in pricessince the third quarter of last year.

"We have already signed over 600 megawatts of contracts withour European customers," Shi told Reuters in a telephoneinterview.

"We are still aiming for at least 800 megawatts ofproduction for this year," he said. The entrepreneur saidproduction was about 500 megawatts last year.

Suntech, which makes the panels that turn sunlight intoelectricity, expects full-year 2008 revenues of between $1.91billion and $1.93 billion.

Financing for new renewable energy products has becomedifficult as banks around the world have tightened lending amidthe worst economic slowdown in decades.

"Prices have already fallen 20 percent from Q3 last year,"he said, referring to the third quarter, but he added thatprices have since stabilised.

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Spain's stationery supplies BBVA may increase stake in CITIC Bank

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Spain's BBVA may increase stake in CITIC BankPublished: 06 Mar 2009 00:00:00 PST

Mar. 6, 2009 (China Knowledge) - Banco Bilbao Vizcaya Argentaria SA (BBVA), the second largest bank in Spain, is eager to further increase its stake in China CITIC Bank Corp<601998><998>, said Kong Dan, Chairman of the bank's parent CITIC Group.

Earlier this year, officials from China CITIC Bank and BBVA inked an agreement to expand their cooperation. The agreement mainly focuses on auto financing and private banking, according to Kong.

In 2008, BBVA consented to increase its holding in CITIC International Financial Holding to 30%, and its stake in CITIC Bank from 4.83% to 10.07%. BBVA was also given the choice to purchase another 5% in the bank.

CITIC Group is the largest state-owned conglomerate in China, and supervises the government's international investments as well as some domestic ones.

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