New Hampshire, USA — European negotiators wanted a binding agreement, and the United States seemed content to sit on the sidelines. The real focus of the U.N. climate talks, though, rested with China, India and Brazil — nations destined for huge growth in their economies and their emissions.
Reaction to the deal forged on the final weekend of the annual summit in Durban, South Africa, is split, mostly because its objectives are vague and its timetable is distant. China and India were each adamantly against a legally binding treaty. But in the end, they were for a slight change in stance — they will now begin to discuss a cap on emissions.
The move was greeted as hollow for those who wanted real action. Others saw the promise to move toward a global treaty as an accomplishment because it forced two growing economic giants to shift their stance. China and India both see a growing market for clean energy manufacturing and project development at home, and their inclusion in the deal could be seen as an indication of an increased confidence that they can pull off these changes once a timetable is set. Of the developing nations, India and China may stand to gain the most from an energy deal — especially once that is years away. Their ability to structure growth around these targets will be unmatched when compared to developed nations, and this potentially will put them in a position of leadership.
Financing China’s Solar Rise: The Pittsburgh Tribune-Review is reporting that “Goldman Sachs, Morgan Stanley, Citigroup, Lehman Brothers, Merrill Lynch, USB Investment Bank and others raised $6.5 billion for seven young Chinese solar panel makers in the mid-2000s by underwriting their securities on the New York Stock Exchange and Nasdaq.”
The Other Side of U.S.-China Trade: While many in the U.S. and China duke it out over accusations of dumping and protectionism, the Green Export Enabler Program works to enable green U.S. exports to China, writes Meg Cichon, who recently visited Hong Kong.
New Wind Partnership: Siemens and Shanghai Electric have teamed up on two joint ventures — one for wind turbine R&D and the other for sales, marketing and project management in the China market.
Move Toward Renewables: China Three Gorges, the nation’s largest hydropower facility, is buying a 29 percent stake in renewable energy producer China Power New Energy Development Co., as the nation works to push its businesses to move away from coal and oil.
First CSP Plant: Thailand inaugurates its first concentrating solar power, a 5 MW facility located in the province of Kanchanaburi Huaykrachao.
Changing Utilities: The rise of information and communications technologies promises the ability to redefine how electric utilities function, and this change could have a monumental impact in places like India.
Floating Solar: Korea Water Resources Corp., the leading water resources and power company in South Korea, is looking to invest in floating solar power systems to be placed in dams in the Philippines.
Double the Wind in China: At just under 40 GW, wind power accounts for 1.5 percent of China’s installed capacity, and that figure is expected to double by 2015.
Geothermal Capacity in China: In China’s Shandong province, it is estimated that shallow geothermal energy resources within the first 200 meters (approx. 600 feet) beneath the surface is equivalent to 131 million tons of standard coal each year, or approximately 40 percent of the province’s coal reserves.
Bio Takes Leap in China: Bioenergy and biofuel company FuturaGene, which has worked in China only through partnerships, has opened a new biotech R&D center in the country.
54: Megawatts of installed solar PV capacity in India as of 2010.
311: Megawatts of new installed solar PV capacity expected by the end of this year
3,075: Megawatts of new solar PV capacity projected to be installed in 2016 alone.
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