Evolution Solar to move headquarters to China

4 August 2009

Solar energy technology company Evolution Solar Corporation is to move its primary business office to China.

According to a statement, the company feels China represents an ideal base for operations for two reasons: first, use of solar in China is growing very rapidly due to strong government incentives, and second, China will serve as a source of products at competitive prices to allow the company to engage in projects in other parts of the world.

New management is expected to take the helm as the company begins its focus on China as a source of operations. The company will have a US subsidiary that will manage and supervise opportunities in the US.

‘This step allows us to gain significant efficiencies in both serving the Chinese market and sourcing products for the US,’ said Robert Kaapke, CEO of Evolution Solar Corp. ‘We expect our China office to drive rapid growth in the company in the months ahead.’

China’s new $2.70 per watt government solar incentive has delivered a strong stimulus to solar stocks. China’s stimulus programme represents a 50 per cent government participation in the cost of many solar projects. Yingli Green Energy Holdings was up 43 per cent on the news. ReneSola was up 31 per cent and Suntech Power Holdings was up 50 per cent.

Evolution Solar Corporation commercialises alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances.

Copyright © 2009 NewNet

Tags: solar

This story was published on Tuesday, August 4th, 2009 at 5:07 pm and is filed under Asia, North America, companies, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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