Solar dealers eye Africa after EU boycott (3)

Around 80 percent of China's solar products were exported to the EU, Zeng Shaojun, secretary-general of the China New Energy Chamber of Commerce, told the Global Times in a previous interview in October.

Zhao Changhui, chief country risk analyst at the Export-Import Bank of China, one of three institutional banks in the country which is chartered to provide loans and services for foreign investments, told the Global Times at the summit that it was not a wise move for the Chinese enterprises to "flood into" the US and European markets nearly one decade ago, when some experts suggested the firms expand their business in Africa.

Unlike developed markets, most African countries are seeing their traditional power develop from earlier stages of development, "which brings a big opportunity for the solar industry," Zhao said.

But Zhao warns that Chinese enterprises need a long-term investment perspective to tap the African market, which has huge growth potential for solar energy.

Currently only a few Chinese solar firms with stronger capital strength like Yingli Solar have businesses in Africa.

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