Asian Green Technology Holdings Sees Promise In Suntech Power
Suntech Power sees a rise in their stock price following the Fukushima explosions.
- (1888PressRelease) April 07, 2011 - The Fukushima explosions have not only rocked Japan but have caused global concern over the future of nuclear energy. The recent earthquake, tsunami and explosions at a nuclear power plants have only served to prove that, no matter how hard you plan, you cannot cover all eventualities.
The consequences of nuclear going wrong bring to mind Chernobyl, cancer and weapons of mass destruction. These things are not a risk most are willing to take. Increased safety measures and regulations set in place since the Fukushima explosions will additionally increase the costs of nuclear energy which is currently one of its major plus points. Doubts over the safety and the rising expense of nuclear energy have even led Germany to shut down seven nuclear power plants and Switzerland to halt plans for new nuclear power.
A worldwide loss of confidence in nuclear energy does however have its plus points. Following the Fukushima explosions Suntech Power as well it’s other solar energy rivals, First Solar, Yingli Green Energy Holding Co. and SunPower, have all seen a boost in stocks. But what exactly does Suntech do?
Suntech Power are pioneers in solar energy creating photovoltaic products, additionally providing an engineering and construction service. To give you an idea of just how innovative they are, they have recently released a 245w monocrystalline solar photovoltaic (PV) module to be used in European residential areas and small businesses. The scale of this company is vast. Suntech Power Holdings Co. is the world’s largest provider of solar panels, creating over 13,000,000 worldwide, distributed to over 80 countries. Their solar panels can even be seen on the Beijing National Stadium, a failrly innovative building in its own right.
Since the Fukushima explosions, the Japanese solar industry has faltered. Once providing the world with 10% of its solar components, China has picked up the slack and is currently the world’s number one provider of solar energy. Production capacity is currently running to its maximum at Suntech Power and it looks set to continue to cash in on the loss of confidence in nuclear power for some time.
Suntech Power was founded by Dr Shu Zhengrong (who has been hailed as the world’s first green billionaire) and is reportedly one of the most profitable private equity investments of all time. Investors will be even more delighted at Suntech Power’s recent 20% increase!
Nuclear power generation isn’t going away anytime soon, but the recent events in Japan have pointed out to the world that there are indeed dangers associated with it. Green energy solutions including solar, wind and geothermal are prepared to pick up the slack. Though they can’t yet compete on price, these technologies are the future of powering the globe, and companies like Suntech will continue to experience significant growth over the next 10 years.
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