Chinese scientist cashes in on ‘clean energy’

Shi is the leader of an emerging group of Chinese entrepreneurs who are striking it rich by meeting fast-growing demand in China and abroad for cleaner power.

They are getting a boost from China’s efforts to curb environmental damage after two decades of breakneck growth that have
left it with some of the world’s most badly polluted air and water. Chinese leaders also are promoting renewable energy in hopes of reducing mounting dependence on imported oil, which they see as a strategic weakness.
China accounted for just 10 percent of Suntech’s 2006 sales of $599 million. The equipment is expensive enough that its use in the company’s home market is limited to lighthouses, remote military posts and other sites far from power plants.

But Shi says the Chinese, U.S. and other markets will grow quickly as governments respond to concern about global warming by rolling out clean-energy initiatives. Beijing has ordered Chinese utilities to generate at least 10 percent of their power from solar, wind, hydroelectric and other renewable sources by 2010, with the target rising after that.

Inside Bay Area