China’s solar giant makes U.S. move

[phantom power]

The United States -- a purchasing opportunity!

In another sign that the financial crisis is not slowing the solar industry, Suntech, the giant Chinese solar module maker, made a big move into the United States market on Thursday. The company announced a joint venure with green energy financier MMA Renewable Ventures to build solar power plants and said it would acquire California-based solar installer EI Solutions.

(...)

Suntech’s purchase of EI Solutions gives it entree into the growing market for commercial rooftop solar systems. EI has installed large solar arrays for Google, Disney, Sony and other corporations.

“Suntech views the long-term prospects for the U.S. solar market as excellent and growing,” said Suntech CEO Zhengrong Shi in a statement.

Other overseas investors seem to share that sentiment, credit crunch or not. On Wednesday, Canadian, Australian and British investors lead a $60.6 million round of funding for Silicon Valley solar power plant builder Ausra. “So far the equity market for renewable energy has not been affected by the financial crisis,” Ausra CEO Bob Fishman told Green Wombat.

http://greenwombat.blogs.fortune.cnn.com/2008/10/02/chinas-solar-giant-makes-us-move/

[FREEWILL56]

1. Gee, that's good for China, but we need more US manufacturers and installers.

Instead we see our "service industry" falling apart at the seams as it's all wall street left for us after sending our jobs overseas.:wtf: :mad:
Worst part is is we have to bail out the fuckheads because people fear another crash like that of the late 20s. In my opinion, wall street and much of corporate America is a threat to our national security more than Bin lost Laden. Call the troops home as they've got a job to do here.