China Wind Giants Surge More Than 20% on Aggressive Proposal

China Wind Giants Surge More Than 20% on Aggressive Proposal

Chinese wind power equipment makers advanced as the industry proposed an aggressive installation plan that would boost capacity 14-fold through 2060 to help the country reach its goal of being carbon-neutral by then.

China’s biggest wind turbine maker, Xinjiang Goldwind Science & Technology Co., surged 22% in Hong Kong in the biggest increase since August 2014 to make it the best performer in the MSCI China Index. Shandong Shuangyi Technology Co. rallied 20% to a record high in Shenzhen and Titan Wind Energy Suzhou Co. rose 10%.

More than 400 wind firms signed a declaration at a conference in Beijing asking the nation to add more than 50 gigawatts of annual wind capacity during the five years through 2025, industry publication bjx.com reported. That would rise to at least 60 gigawatts a year beyond 2025, with total installations reaching at least 800 gigawatts by 2030 and 3,000 by 2060.