China announced it will increase subsidies for solar companies by $1.11 billion (7 billion yuan), according to multiple news outlets.Solar company stocks are surging on the news, including:
- JA Solar Holdings, +17 per cent
- LDK Solar Co., +16 per cent
- Yingli, +19 per cent
- Suntech, +12 per cent
Even Arizona-based First Solar is up 5 per cent.
The new infusion brings China’s total solar subsidies for 2012 to $2.08 billion, according to Xinhua.