Solar cos welcome WTO ruling; Chinese solar stocks gain

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The latest WTO ruling against U.S anti-dumping duties on several Chinese imports including solar cells has created uproar in the market with several companies and individuals expressing their opinion in favor and against it.

Canadian Solar responded to this development stating that WTO ruling is in alignment with the opinion of Canadian Solar as well as other organizations which represent the majority of the PV industry.

“The imposition of countervailing and potential anti-dumping duties is not only disruptive to a fair trade business environment but also damaging to an industry which seeks to support the United States’ commitment to renewable energy deployment and sustainable development,” said Thomas Koerner, president of Canadian Solar, Americas.

Solar panelsIn view of this ruling, the solar company urged the U.S to re-evaluate its preliminary determination of countervailing duties and the misguided trade dispute at large. This, according to Koerner will uphold the values of free trade and competiveness that have fostered a market environment that has witnessed a consistent growth over the past several years.

Following the WTO ruling, stocks of several solar PV manufacturers, especially the Chinese, rose by significant margin giving high prospects to investors.  On Monday shares of Yingli Green Energy rose by 4.8 percent, China Sunenergy by 5.5 percent, ReneSola by 3.1 percent, Trina Solar by 2.6 percent, and Jinko Solar by 2.8 percent.

U.S solar companies that rely on imported Chinese products also witnessed stock rally. For example, the stocks of US-based company SolarCity, which relies heavily on imported Chinese-modules, rose by 2.4 percent.

editor@greentechlead.com

 

 

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