Mention "renewables", and the response of many is that the future decline in fossil fuel resources will eventually drag the world into a more sustainable energy market structure, with some glitches on the way.However, the reality is likely to be very different.
Oil gained for the first time in four days in New York as signs of shrinking stockpiles in the United States stoked speculation that demand is recovering in the world's biggest crude consumer.
Suntech Power Holdings Co announced that it signed an agreement on Wednesday with a Chinese supplier of the United Nations for producing more than $80 million worth of solar power equipment.
Gamesa SA, a global leader in wind turbine manufacture and wind-farm development, said on Wednesday that it has signed contracts with China Guangdong Nuclear Wind Power Group and China Huadian New Energy Development Co.
"The United States' solar photovoltaic (PV) industry will undergo a period of rapid development in 2011 and the number of products our company supplies to the US market will be doubled," said Gao Jifan, chief executive officer of Trina Solar Ltd, a Chinese leading solar PV manufacturer.
China, the world leader in wind power by installed capacity, is facing a growing problem with grid connection as more than half of the electricity its wind farms generate goes unused.
China's recent move to raise the threshold of polysilicon production may cut estimated capacity by half and spur industry consolidation.
The largest wind farm project in north China's Tianjin was connected to grid on Tuesday, supplying power enough for 247,500 households a year.
A total of 2.78 billion kilowatt-hours of power generated by China's wind farms was wasted in the first half of 2010, the Beijing Times reported, citing a report issued Monday by the State Electricity Regulatory Commission.
Sinovel Wind Group Co, China's largest wind power generator manufacturer, announced Monday it will finish production of the country's first independently-developed 6-megawatt wind turbine in June.
Sinopec's diesel stocks increased 93 percent compared to the second half of last year, Jinghua Times reported Monday. The company said its daily processing capacity and stocks each reached a record high.
Diesel stocks held by China Petroleum and Chemical Corp or Sinopec Corp surged 93 percent from late 2010 to a record high, Reuters reported on Monday.
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