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Business/Finance See other Business/Finance Articles Title: Chinese solar companies explore internet opportunities Want... Chinese solar power companies are exploring ways to tap into the power of the internet in operating solar power stations and raising funds for infrastructure construction, reports the Guangzhou-based 21st Century Business Herald. Ou Wenkai, a board director of Shandong-based Hangyu Solar Technology, says the internet has overhauled several industries and the explosive growth handset maker Xiaomi built on online marketing has caught the attention of the solar sector. China has installed solar power capacity totaling 28.05 gigawatts and plans to expand another 17.8 GW this year. If the target is achieved, China will surpass Germany in installed capacity, according to the report. The growing number of solar power stations represents greater demand for the management and maintenance of these facilities. Sungrow Power Supply, the top manufacturer of solar power inverters in China, recently teamed up with e-commerce giant Alibaba and launched the iSolarCloud platform for the management of solar power stations. Sungrow's smart solutions improves the revenue of solar power stations by 3%-7%, according to a company statement. The newly launched platform will use the computing power, storage capacity and internet connectivity provided by Alibaba's cloud services to offer smart maintenance of solar power stations, according to Sungrow. Another area solar power companies are exploring in the virtual world is finance, because of the high costs of raising funds for solar power projects, said the report. Apart from a lack of channels for raising funds, solar power projects in China face a borrowing rate two to four times as high as rates in Western countries, according to the report. The establishment of the China Photovoltaic Power Investment and Financing Alliance by solar equipment manufacturers, solar power station operators, financial institutions and research institutes in China earlier this month reflected the sector's efforts to address the funding issue. Former LDK chair Peng Xiaofeng, who is currently the chairman of Solar Power (SPI), launched Solarbao, an online platform that offers investment in solar power equipment and panels as financial products. Peng said power stations offer stable returns, and Solarbao has raised nearly 200 million yuan (US$32.2 million) in the two months following its launch. Post Comment Private Reply Ignore Thread
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