New Jersey Solar Firm Aims for China’s Solar Market

With China’s booming economy and skyrocketing energy needs, everyone in the business of energy, from coal-fired boilers to the cleanest renewable energy technologies is eager to access that fertile economy.

WorldWater & Power Corporation, maker of high-horsepower solar energy systems, has been making preparations for introducing its solar powered systems to the expansive China market. In late May, the company exhibited at the Second China International Renewable Energy Equipment & Technology Exhibition and Conference and the China Beijing International High-tech Expo (CHITEC) in Beijing, making contact with several hundred visitors from Korea, Mongolia, and throughout China. WorldWater has now announced the signing of an agreement with Xinhua Financial Network Limited, a Chinese financial services and media company, to represent the company in the Chinese water and energy markets. Xinhua will introduce the company to federal and provincial governmental and private sector buyers for the sale of the company’s high volume water pumping systems and other solar products. China has 1.3 billion people and one of the largest and most rapidly growing economies in the world. The result is that 50 coal-fired plants are under construction and an estimated 600 are planned for the next 6 to 8 years in an attempt to meet energy requirements. In spite of these efforts, the country is plagued with blackouts. China is already the strongest market for solar thermal hot water systems, but the real boom for renewable energy will come from the country’s recent decision to promote clean energy. As a result of deteriorating air quality, the National People’s Congress Standing Committee passed a Renewable Energy Law, effective January 1, 2006, requiring that 10 percent of China’s electricity must be generated from renewable energy sources by 2020. Several provinces are investigating the use of solar systems, and appear to be moving forward ahead of government regulations.
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