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The Honolulu Advertiser
Posted on: Monday, December 28, 2009

BUSINESS BRIEFS
Law ensures market for 'green' energy


Advertiser News Services

Hawaii news photo - The Honolulu Advertiser

A new law requires China's utilities to buy all the power produced by wind farms and other renewable sources.

ELIZABETH DALZIEL | Associated Press

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BEIJING — China's utilities will be required to buy all the power produced by wind farms and other renewable sources under a new law meant to promote the industry and reduce heavy reliance on coal.

Legislators approved the measure Saturday as an amendment to China's 2006 renewable energy law, the official Xinhua News Agency reported.

Beijing has set ambitious goals for wind, solar and other renewable energy in an effort to clean up its environment and curb surging demand for imported oil and gas, which communist leaders see as a strategic weakness.

The measure also could help Beijing fulfill promises to restrain growth in emissions of carbon dioxide and other gases blamed for changing the climate.

JAPAN'S INDUSTRIAL OUTPUT RISES 2.6%

TOKYO — Japan's industrial output in November rose 2.6 percent from the previous month, helped by a recovery in global demand for Japanese products, the government said today.

The trade ministry said industrial output — a key barometer of Japan's economic health — grew for the ninth consecutive month.

The November result beat a 2.3 percent increase forecast in a Kyodo News agency survey of economists.

Shipments in November edged up 0.9 percent month-on-month with inventories rising 0.2 percent in the month.

UAE AWARDS $20B NUCLEAR CONTRACT

DUBAI, United Arab Emirates — The United Arab Emirates yesterday awarded a South Korean consortium a prized $20 billion deal to build nuclear reactors as the oil-rich nation races to meet its booming energy needs.

Korea Electric Power Corp.'s winning bid marks the first time South Korea will export a nuclear power plant.

The Korean consortium includes Samsung, Hyundai and Doosan Heavy Industries. Japan's Toshiba Corp. and its Westinghouse subsidiary will also play a role.