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HONG KONG, Feb 25, 2010 - (ACN Newswire) - Putting lots of attention on the matter of renewable energy, China's policy-maker does its utmost wholeheartedly to promote energy-saving industry, in which solar system is one of the core assisted project with a target that the solar market in China could become the largest one in the world. The launch of "Golden Sunlight Projects" in Beijing actually means the Capital would be set up as the first solar city in China and would eventually expand to other cities, implying the huge potential of the industry. China Innovation Investment Limited ("China Innovation", Stock Code: 1217.hk) as an expert in dual-use of 'Three-New Industries' in civil and military markets, has designs on the broadening of sector.
Beijing Municipal Commission of Development and Reform confirmed the 6 major "Golden Sunlight Projects "earlier, including a 20,000 kW rooftop solar photovoltaic (PV) power generation project, a 50,000 kW on-grid solar power station demonstration project and etc. Not only it can accelerate the development of solar system, but also solve the problems that would appear in the marketing of new energy products.
According to the project, Beijing's solar energy power generation capacity will total 70 MW and the output value of its solar energy industry will exceed 20 billion yuan in 2012, which means the saved energy consumption can replace 900,000 tons of standard coal; while at the year of 2020, the capacity will even hit 300 MW. Beijing is thought to be the first solar city in China, heading to the target of being the largest solar market throughout the world.
Based on a research done before, solar as a clean and renewable energy, even if only 1% of the desert area in the world is served to receive sunlight, the electricity converted is sufficient to support all the human beings for a whole day. However, the on-grid electricity price still poses an obstacle for the utility rate of solar energy. With the government subsidies and mature technology, it's believed that the production cost would become lower, which tightens the on-grid electricity price difference with the traditional one.
Building up a strong foundation in 'Three-New Industries', including "New Energy Resources", "New Light Resources" and "New Materials", China Innovation has already foreseen the opportunity in solar energy, and eventually entered into the Acquisition Agreement with Topsun Creation Limited ('Topsun') last year. Topsun's business includes the R&D, production and sales of new energy batteries with high capacities for civil- and military-use. With the characteristics of high capacity, fully sealed and maintenance-free, these batteries are substantially used in tanks, submarines and barracks as well as civil vehicles and construction.
Another vantage for Topsun is that, the company got 8 licenses in reserving batteries and has spent more than 70 years in chemical electricity technology and production of military products.
In fact, being beneficial with the Government's direction in emission reduction and energy conservation, solar energy still faces lots of opportunities. Although the technology encounters challenges like unstable supply of sunlight, export of direct electricity current, unevenly distributed coverage of electrified wire netting, and the development is still immature, it is believed that the demand of reserving system will grow substantially.
Contact:
Carmen Lee
Investor Relationship Department
China Innovation Investment Limited
Email: carmen.lee@1217.com.hk
Tel: 2111 9988
Direct: 2155 6275
Mobile: 6301 6611
Fax: 2111 9989
Topic: Press release summary
Source: China Innovation Investment Limited
Sectors: Electronics, Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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