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China should 'strive' to invest in US, says NEB director

CHINA: Chinese wind companies should take advantage of US investment opportunities, according to director of the renewable energy division at China's National Energy Bureau (NEB) Wang Jun.

The 'Wind Power: Chinese Investment in US Wind Project ‘ forum
The 'Wind Power: Chinese Investment in US Wind Project ‘ forum

Wang was speaking at ‘Wind Power: Chinese Investment in US Wind Project ‘, a US-Chinese forum hosted in Beijing by the NEB, the US Department of Energy (DOE) and US Department of Commerce (DOC).

It was the first public dialogue between the two countries’ energy bodies since the US government launched a probe into whether China’s wind industry was breaking international trade laws.

At the forum, Wang said: "Chinese companies should strive to invest in the United States. This will not only enhance Chinese companies’ capacity for international development, but also facilitate sustainable development of the US wind power market."

Wang pointed out that US companies, such as GE, have invested in renewable energy projects in China, including setting up manufacturing facilities to produce wind turbines, bearings and converters. The Chinese market has become an important component of the U.S. enterprise global operations.

In contrast, he said, Chinese companies are unfamiliar with the US market. Only a few companies, such as Goldwind and A-Power, have moved to invest.

Some Chinese companies have met obstacles in developing projects in the US and had to abort them, Wang said. This has lead many Chinese companies to avoid investing in the US renewable energy sector.

Mark Ginsberg, a senior official from the Office of Energy Efficiency and Renewable Energy under DOE, said there were plenty of opportunities for companies looking for US investment opportunities.  

He said: "Even if the current US national energy policies are short of foresight strategically, the US has 50 states, something equivalent to 50 countries. The state governments will provide some preferential policies to foreign wind power companies at their policy levels."

Wang added the Chinese wind industry had plenty to offer the US market at a time when development has been slowing down. He said China has plenty to offer in terms of the experience gained developing large wind projects for the domestic market.

Additionally the growth of the Chinese market meant its wind companies had funds to invest overseas.

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