30 October 2008
Solar, wind power get boost in China
Renewable energy is a no brainer for China, as the country recognizes it needs to shift away from heavily polluting coal and oil-fired power generation to cleaner, more efficient energy sources.
One of the ways to beat the energy problem is through solar and wind energy, and that is why Intel Capital is investing $20 million on Trony Solar Holdings Co., one of China’s largest makers of solar energy and wind power equipment.
“The world economy is in a very difficult position, but innovation is the way to help the companies out of financial crisis,” said Cadol Cheung, managing director of Intel Capital for the Asia Pacific. Intel Capital is part of computer chip maker Intel Corp.
The financial boost will allow Trony to hike its production and research and development, company officials said. Trony, founded in 1993, is in the southern export hub of Shenzhen and has generated revenues in 20 different countries.
“Investing in ‘clean-tech’ is relatively new for Intel Capital,” said Stephen Eichenlaub, Intel Capital’s managing director. “Clean technology area will take on a large strategic significance for Intel’s future.”
In addition to its investment in Trony, Intel Capital also will invest in NPH Holdings Ltd., a Chinese company specializing in electricity storage systems for renewable energy.
For more information, go to www.isa.org/productivity.
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