Solar Power News
BlackRock New Energy Fund carefully overweight Asian Solar
Written by Wellsee Solar Friday, 29 January 2010 17:10
* BlackRock to increase the proportion of investment in solar energy industry
* Believes that China has a cost advantage over Europe
Reuters Davos, Switzerland, January 27 Xinhua --- the world's leading investment management firm BlackRock (BlackRock)'s New Energy Fund (New Energy Fund) "prudent" to increase the proportion of investment in solar energy companies. Over the past two years, solar energy plate supply, combined with falling prices and reduced vendor profit margins.
BlackRock New Energy Fund was established in 2001, as of December 31 last year, the management of assets of 3.9 billion U.S. dollars.
In 2009 the fund's return rate was 21% compared to Morgan Stanley Capital International (MSCI) world stock market index, an increase of 27%.
The fund, one of mutual fund managers in London, Robin Batchelor, said in a conference call, "We are cautiously increase the proportion of investment in solar energy industry, because we believe that demand for showing U-reversal." He said, adding that "We will focus on Asia manufacturers in Asia than in Europe because the more structured advantage. "
"(Solar energy industry in China) can be gained considerable electricity subsidies, industrial land and personnel costs are relatively low, approval is also faster, but environmental problems have not to worry. In Western countries have to bear the considerable costs of these , "Batchelor said.
Batchelor also said: "Electricity costs account for a large part of the cost of production, so a number of Asian companies have a structural advantage."
He said that before forming a surplus supply of solar panels, BlackRock New Energy Fund had investments in solar energy company will be increased from "some years ago" and up to 30%, down to 5%.
ABN AMRO Solar Energy tracked down 3 percent last year, while the Dow Jones-Sustainable Asset Management jointly developed a global solar energy stocks index fell 2.4%.
BlackRock New Energy Fund, more than half of the funds to invest in renewable energy sector enterprises, to invest the remaining funds are mainly "green" building, electric vehicle batteries, emissions trading and carbon capture and storage (carbon capture and storage).
Batchelor said the clean energy industry growth restrictions on the four factors: the financial crisis resulting from bank financing difficulties; government support for green energy industry is not enough; price weakness as a whole and this year has insufficient capacity for the new green policies.
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