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Warren Buffett Regrets Owning Electric Utilities

Warren Buffett Regrets Owning Electric Utilities

Buffett recognizes that the US…

EU Trade Tariffs Force China PV Manufacturers to Turn to Africa

The anti-dumping tariffs levied against Chinese solar manufacturers exporting to Europe have forced them to finally expand into a new market; Africa.

€21 billion worth of solar panels were exported from China to the EU in 2011, and in an attempt to restrict these dumping activities and any further expansion into the market, the European Commission has decided to impose an 11.8% tariff on all solar products from China. Cleantechnica wrote that according to the Chinese information service, Xinhuanet , the tariffs will leave Chinese solar companies ‘mired in debt and overcapacity’ forcing them to ‘find alternative markets.’

After the EU has effectively shut the door in their face, it is only reasonable, and sensible, that the Chinese PV manufacturers have found a new market in which to focus their attention.

Related article: Buffett Goes After 2nd Solar Farm Bond

Cleantechnica note that China’s PV panel makers are in line to supply most of the $140 million needed to build one of the largest solar power stations in Africa, in Garissa, Kenya. They can then use that project as a base of operations from which to begin their expansion across the continent.

This new move could really benefit China and Africa, who is only just beginning to develop renewable energy infrastructure, and yet who has huge renewable energy potential.

By. Joao Peixe of Oilprice.com



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