HomeWorld RegionsAsiaBeijing plans for 35 GW of solar capacity by 2015

Beijing plans for 35 GW of solar capacity by 2015

The Chinese government has formally made plans to rapidly increase its solar power generation capacity over the next three years.

The country is to more than quadruple its solar capacity to 35 GW by 2015.

Solar panel
According to the FT, China’s State Council, or cabinet, said it hoped 10 GW of capacity would be added annually over the next three years, in a step that should help soak up the country’s sizeable share of a global glut in supply that has savaged many of the industry’s biggest names and seen solar panel prices plummet in the past two years.

China has the world’s third-biggest installed capacity of solar power, with 8.3GW of solar photovoltaic capacity at the end of 2012, behind Germany on 32.4 GW and Italy on 16.3 GW.

The news will be welcomed by hard-pressed Chinese solar panel manufacturers like LDK Solar, whose shares rose by 19 per cent in New York as a result.

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