Chinese companies' ability to meet wide-ranging energy demands of countries, regions and blocs such as the European Union, Africa, Latin America and the Asia-Pacific, which are all at various stages of transition to clean power besides seeking energy security, will spawn an era of high-growth opportunities for them, industry experts said.
From solar and wind to new-age battery business and energy storage solutions, Chinese companies have already built up an enviable prowess and a strong market presence, which will help them to ride a wave of opportunities to grow globally, they said.
For instance, Europe's energy crisis has unexpectedly created growth opportunities for Chinese renewable power companies. Historical opportunities await them as several European countries are set to cut their reliance on Russian energy. Besides, they are stepping up their transition to a low-carbon energy setup.
China's new energy industry, including the segments of household roof photovoltaic systems and wind power generators, has been witnessing rapid growth in overseas sales in recent months. Luo Zuoxian, head of intelligence and research at the Sinopec Economics and Development Research Institute, attributed the surge to the rising demand from European consumers due to the ongoing energy crisis.
Against the backdrop of the global emphasis on low-carbon power, all clean energy industries, especially solar power, are expected to see a golden period of rapid development. Some of China's largest solar companies, such as Shanghai-based Jinko Solar Co Ltd and Xi'an, Shaanxi province-headquartered Longi Green Energy Technology Co Ltd, are expected to benefit from the rising demand for clean energy from Europe, Luo said.