German Solar Association Pushing For A Faster Cut In Subsidy (STP, TAN, TSL, JASO, FSLR)
Solarworld Chief Executive Frank Asbeck said in an interview to a German magazine that the industry association for the country’s solar companies, BSW, is set to propose faster-than-planned cuts in subsidies.
In an excerpt of an interview to be published in the weekly Focus-Money magazine on Wednesday, Asbeck mentions that there will be a cut of about 10% in January, 5% at mid-year and another 10% in early 2011. The Handelsblatt newspaper stated that the BSW association has planned to make this proposal in a meeting scheduled for January 13.
This news has driven the share prices of Claymore/MAC Global Solar Energy (NYSE: TAN) up 0.39% to $10.25, of Suntech Power Holdings Co Ltd (NYSE: STP) by 0.12% to $16.73 and of Trina Solar Ltd (NYSE: TSL) by 0.44% to $55.09. Meanwhile, the shares of JA Solar Holdings Co Ltd (NASDAQ: JASO) have climbed 2.98% to $6.23 and of First Solar Inc (NASDAQ: FSLR) have moved up 0.81% to $134.89.
