RECAP: REA

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_12E57836B99FC03D48257829003401EB/$file/REA_News_Release_Solar_Energy_310111.pdf?openelement

SINGAPORE, 31 January 2011

http://www.ecoworld.com/energy-fuels/chinas-renewable-energy.html

China’s government plans for renewable energy generation to meet 15% of the country’s growing energy needs by 2020. Renewable energy and energy efficiency look set for a boost as Beijing authorities have now outlined plans to diversify their energy resources in the face of continued price rises, pollution concerns and China’s unquenchable fuel and electricity demands. In its “alternative oil strategy,” which is part of the China’s 2006-2010 Five-Year Plan, Beijing has called for a doubling in renewable energy generation to 15% of the country’s needs by 2020. The target is in line with a new renewable energy law requiring grid operators to purchase resources from renewable energy producers. The law, which came into effect in January, also offers financial incentives to foster renewable energy development, including discounted lending and a range of tax breaks. Of the main renewables, wind power is tipped to have the most potential. Professor Wang Weichang, an energy expert at Tsinghua University in Beijing, predicted wind was on course to supplant hydro as the country’s second-largest electricity source, behind coal. Wang said China has the ability to generate up to 100 gigawatts, or 20% of current national capacity.

http://www.nextinsight.net/index.php/story-archive-mainmenu-60/912-2011/3429-renewable-energy-asia-

REA Group is the only such listed business on the Singapore Exchange currently. REA Group’s JV partner is China Datang Corporation Renewable, China’s largest state-owned power operator. Powered by Government stimulus, China’s wind power capacity has surged from 6 GW in 2007 to 26 GW in 2009. The Chinese Government’s target is 150 GW by 2020.  In addition, wind farms pay no income tax for the first 3 years and 50% of the taxable income in the subsequent two years.



– Renewable Energy Asia Group (亚 洲 新 能 源 集 团 ) has received the go-ahead from the government of Inner Mongolia, for the construction of a 10-megawatt (MW) solar energy farm. The solar energy farm is part of the 285MW Green Energy Park concession in Zhenglanqi, Inner Mongolia, secured by REA Group last May. In addition to the solar energy farm, the Company will develop a 250MW wind farm, and a 25MW bio-fuel plant in the Park in phases.In recent years, China has demonstrated strong commitment in reducing its reliance on environmentally harmful fossil fuels with key laws and regulations. The country is planning to pump in some RMB5 trillion in investments between 2011 and 2020, to promote the development of its renewable energy industries as part of its 12th and 13th Five-Year Plan.