NEW YORK, NY — (Marketwire) — 08/22/11 — Solar stocks have been on the downturn of late as a sudden decline in oil prices, project delays and budget cuts have halted growth estimates. With North American and European alternative energy projects slowing, Chinese exposure has become critical to the long term growth potential of several renewable energy companies. The Bedford Report examines the outlook for the Solar Industry and provides equity research on LDK Solar Co. (NYSE: LDK) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE). Access to the full company reports can be found at:
Despite being one of the world–s most prominent polluters, China–s investments into clean technology far surpass the United States. According to Ernst & Young, China is the most attractive location to invest in renewable energy projects. The firm says that the United States slipped to second place last year — due in part to China–s $11.5 billion in asset-financing for clean technology in the second quarter of this year — on the Renewable Energy Country Attractiveness Indices, which grades countries on a 100 point scale in national renewable energy markets, renewable energy infrastructure, and suitability for individual technology.
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Yingli is making efforts to boost its Chinese exposure. Earlier this summer the company entered into supply agreements with Huanghe Hydropower Development, a subsidiary of China Power Investment Corporation, for the supply of a total of 110 MW PV modules. Yingli said its second quarter net income nearly doubled to $58.1 million, or 36 cents per share, and has seen strong interest from customers since June.
Earlier this month LDK Solar signed an engineering procurement and construction (EPC) agreement with Datang International to develop a 20 MW solar project in the Qinghai province, China.
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