Word: worldly
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...horseback once roamed. While coal consumption is expected to climb more than 3% annually for the next two decades, the government has also required that electrical companies add a significant amount of alternative energy to their portfolios. With the global economy languishing, China - which is not only the world's most populous country, but also the most polluted - offers the promise that its green-energy drive can become a major source of demand for international wind and solar companies...
...China, the world's leading producer of greenhouse gases, is taking an aggressive path to develop alternative sources of energy. Already the world's leading generator of hydropower - a renewable but sometimes controversial power source because of the impact on river ecosystems - China now aims to be the front runner in wind- and solar-power generation. In 2007 the government directed that by next year at least 3% of large power companies' generating capacity should come from renewable sources (excluding hydropower); this target jumps to 8% in 2020. That may not sound like much, but according to a recent study...
...potential bonanza could prove to be a mirage for foreign companies. The country's policymakers are nurturing a domestic alternative-energy industry on a massive scale. China is home to more than 100 wind-turbine manufacturers and some 400 solar-panel companies. The country has quickly grown into the world's largest maker of photovoltaic cells. Yet more than 95% of PV cells produced by China in 2008 were exported, indicating the country's output far exceeds domestic demand. Not surprisingly, foreign companies think they are being blocked from the mainland market. The European Union Chamber of Commerce in China...
...China's Ministry of Commerce rejected the European chamber's complaints of protectionism, saying the country tries to offer a level playing field for all foreign and domestic businesses. But because China has not signed the World Trade Organization agreement that limits protectionism for government procurement, foreign governments have little recourse. China's National Development and Reform Commission said in June that except in cases where the necessary technology is unavailable domestically, funds from the country's $586 billion stimulus package should buy Chinese-made equipment...
...Zhengrong, founder and CEO of Suntech Power, China's biggest solar-panel maker, says his company doesn't sell panels below cost anywhere in the world. And he points to First Solar's Ordos deal as evidence that foreign firms can succeed on the mainland. "As long as companies have a competitive renewable-energy technology and product offering," he says, "there will definitely be opportunities in the Chinese market...