EU wind farm probe puts Brussels-Beijing relations on edge [Yahoo! Finance]
NATURGY ENERGY GRP U/ADR (GASNY)
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Source: Yahoo! Finance
It's the latest move by Brussels targeting suspected Chinese green tech subsidies that could undermine fair competition - from the solar panel industry to a closely watched probe into e-cars. The European Union's competition chief, Margrethe Vestager, announced the inquiry during a speech at the Institute for Advanced Study in Princeton, New Jersey in the United States. "China is for us simultaneously a partner in fighting climate change, an economic competitor, a systemic rival. And the last two dimensions are increasingly converging," Vestager said in her speech. According to industry lobby group WindEurope, Chinese wind turbines are marketed in Europe for as little as half the price of European-made turbines. Brussels wants a major increase in renewable energy to achieve net-zero greenhouse gas emissions by 2050. But the EU is also concerned about over-reliance on cheaper Chinese technology. In Spain, for example, the China Three Gorges Group is bidding for two major ren
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