Wind stocks to fly next year

SHANGHAI: Although many clean technology stocks are currently under siege on the world's markets, many, especially wind stocks, are expected to soar next year, the head of a US consulting firm said here yesterday.

Nicholas Parker, executive chairman of San Francisco-based investment firm Cleantech Group, said yesterday that the attraction is mainly due to wider implementation of the Renewable Portfolio Standard in the United States, growth in China and emerging awareness of wind as one of the most cost competitive alternative energy asset classes.

Between the first quarter of last year and the third quarter of this, IPOs in the clean-tech sector in China raised $2.2 billion, of which the top five were wind or solar energy technology firms, Cleantech said.