Current subsidy plan will prolong until the end of August in Italy

May 06, 2011

Since subsidy project has announced by government in 2007, the Italian solar industry has developed by leaps and bounds. However, Italy planed to cut the subsidies to lighten the customers’ burden. Under the pressure from different area leaders, they hoped the government can adjust subsidies reduction appropriately, required to prolong the subsidy project which falls due in July. The government has made a concession for this now. StefaniaPrestigiacomo, an Energy Secretary, expressed that the government planed to prolong the current subsidy project by three months which is a generous act in Europe. “The bill will prolong the project to 31 August,” StefanoSaglia, the Undersecretary of Industry Department told journalists at Press conference on Thursday. Furthermore, Italian leaders have rejected the Rome draft proposal. Jean-Francois Meymandi, an analyst of Switzerland investment bank, expressed that three-month extension will let some investor complete their current project but won’t lead any new investment in solar power industry. Meymandi said: “As far as installed capacity is concerned, it won’t bring any changes just will increase more budget.” With the announcement of this news, the stock of Chinese corporation rose about 3% averagely, such as Suntech Power,Oviera Solar, Trina solar, LDK solar and so on. However some analysts expressed that the crucial point is that it is still undecided whether the Italian government will set a limit for subsidy . “Before the dust of all the things settle down, the so-called deadline becomes meaningless. “The analyst of Susquehanna Financial Group MehdiHosseini said. by lijie.su oviera solar