China Plans More Support of Solar Industry Growth (LDK) (YGE) (TSL)

Solar stocks are up early as China is looking to back more and more projects in the sector over the next few years.

China's State Council said today that it planned to support growth of 35-gigawatts through 2015. About 10-GW of capacity will be added by China each year for the next three years.

The move will stem oversupply and a drop in exports of panels, Bloomberg said today. China will also support profitable companies, encouraging restructuring, and push for overseas investment. Tax breaks will be offered for those companies that merge or acquire others, the Council said.

Up early include names like Trina Solar (NYSE: TSL), JinkoSolar (NYSE: JKS), Yingli Green Energy (NYSE: YGE), LDK Solar (NYSE: LDK), JA Solar (Nasdaq: JASO), Suntech Power (NYSE: STP), and others.

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