Solar stocks are exploding after a report from Dow Jones’ Wayne Ma indicated China would begin supporting consolidation and bankruptcies among photovoltaic companies.
That means greater market share for more well-established companies.
The surge comes just a week after solar stocks popped on China announcing another billion-dollar round of subsidies for the industry.
Leading the pack is Suntech, up 16 per cent, followed by LDK up 12 per cent. Yingli and Trina are both up 8 per cent.
Ma reports China’s State Council (or cabinet) issued a statement pledging to reform the industry by encouraging mergers and acquisitions and banning local governments from supporting failing companies.
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