Econintersect: The ongoing war of the solar power giants, between First Solar (NASDAQ: FSLR) of the U.S. and Suntech Power Holdings NYSE:STP) and Trina Solar (NYSE:TSL) of China has extended to India. The New Delhi government may initiate an anti-dumping probe in a month focused on imports of Chinese solar products, according to a statement issued Tuesday (December 20) by China’s Commerce Ministry. According to Bloomberg, India’s Commerce Secretary Rahul Khullar has declined to comment.
From Bloomberg:
Indian manufacturers are also seeking a 15 percent tariff on imports of thin-film solar panels, the country’s Renewable Energy Ministry Secretary Tarun Kapoor said in an interview.
Bloomberg reports that India’s solar manufacturers, Indosolar, Moser Baer India and Tata BP Solar have not been able to achieve reasonable market share against subsidized foreigners. Indosolar, India’s largest solar manufacturer, has stopped production as of June and has defaulted on bank loans. From Bloomberg:
“We’re on the same wavelength as the U.S. manufacturers,”Indosolar Managing Director H. Rahul Gupta said by phone, referring to an Oct. 19 complaint lodged by Bonn-based SolarWorld AG’s U.S. unit and six unidentified U.S. companies.
The complaint alleged Beijing uses cash grants, raw-materials discounts, preferential loans, tax incentives and currency manipulation to boost exports of solar cells.
The India complaint targets unspecified U.S. companies as well as those in China.
Yesterday GEI Investing published a pessimistic investment outlook by Elliott Gue for solar and other renewable energy technologies. Earlier, Elliott Morss published (GEI Analysis) negative economic outlooks for the new technolgies over the next few years.
Sources: Bloomberg, GEI Investing and GEI Analysis
Hat tip to Sanjeev Kulkarni
