European solar worth $10 billion to Chinese

China, China, China – yup, we know, we write a lot about that country’s green technology advances. 

It isn’t a perfect world over there, with trade issues around wind power and all being just one hiccup of many.

Things like that country’s high speed rail system, for example, set high, if slightly flawed, goals for us to try and follow.

Now comes word of another big marker of China’s cleantech efforts: a $10 billion push into European solar, which comes after word earlier of plans for a nationwide 10 gigawatt solar capacity by 2015.

Bloomberg reports two Chinese banks plan to back a group of their country’s solar equipment manufacturers in a move to have a major stake in the growing Europe clean energy market.

With nations like Germany declaring an end to nuclear power, there’s no surprise here that clean energy development will grow to be more and more of a money maker in the years ahead.

China Technology Development Group, TBEA SunOasis and Goldpoly New Energy Holdings are aiming to “improve efficiency and bring comprehensive solutions to solar park construction in Europe.”

To this end, it was announced, the three, with the backing of the previously mentioned banks, plan to “cooperate in all dimensions within the vertically integrated solar value chain, using their own advantages, so to increase market share and achieve win-win results.”

This Chinese solar power consortium has laid out a road map of sorts that, among other things, will start up a project company “to jointly invest in and construct small-size solar plants, building momentum to develop large-scale solar plants later on.”  

While this is going on, the companies also plan to get involved in photovoltaic installations on islands in China and a renewable energy fund.

To those who still think it is a pipe dream to make money off of clean energy – tell that to the Chinese as they laugh all the way to the bank.

Nino Marchetti, EarthTechling