China continues to focus on renewable energy development. At the VDE Financial Summit in Shanghai yesterday, representatives from the Chinese government announced that the country plans to massively promote and expand the installation of smaller plants on roofs with the integration of stationary energy storage systems, along with large solar and wind power plants. 300 experts from industry, the financial and insurance sector and government representatives then discussed new criteria for the quality assurance of renewable energy systems as well as innovative business and financing models for the industry. The aim of the Summit is to develop recommendations for new financing models, taking into account all associated risks.
VDE quality pyramid secures bankability and investability
Leading representatives from the political arena, market regulators and consumer protection organizations from China and other Asian countries called for the further improvement of quality criteria that go beyond international standards. "Following these developents, we have therefore created the VDE Quality Pyramid aproach for renewable energies. In addition to meeting international standards, we have taken into account the quality criteria of banks, insurance companies and market authorities, and have incorporated them into testing programs and certifications," said Burkhard Holder, Managing Director of VDE Renewables, yesterday in Shanghai. The regular review and updating of these criteria ensures a high degree of security for all stakeholders, as well as achieving bankability and investability requirements. Many banks, insurance companies and private investors trust the VDE approach, which helps them reduce their technical and financial risks. "We are proud that our VDE Financial Summit in Shanghai and in other countries contributes decisively to the continuous development of quality criteria for renewable energies. From the beginning, the objective of the Financial Summit has been to bring together the industry, banks and insurance companies, and government regulators to have a constructive dialogue. It is gratifying that these stakeholders are taking into practice the practices and solutions which were during the Summit yesterday," said Burkhard Holder in his closing remarks.
About the SNEC PV Power Expo Shanghai 2017 and the VDE Financial Summit
The VDE Financial Summit takes place in its seventh year as one of the premier events at SNEC, the world's leading trade fair for solar components and systems, in Shanghai. The partners of the VDE Financial Summit are the Asian Photovoltaic Industry Association (APVIA) and the China Photovoltaic Investment and Financing Alliance. The SNEC exhibition is spread across fifteen halls. New products and future-oriented system solutions which integrate storage and software systems are being showcased. Pioneering solutions for smart buildings featuring renewable energies are also on display. Germany’s engineering prowess is strongly represented in Shanghai and its top equipment suppliers and engineering firms are exhibiting innovative products to further improve productivity and reduce costs.
About the VDE and the VDE Institute
The VDE Association for Electrical, Electronic & Information Technologies is one of the largest technical-scientific associations in Europe, with 36,000 members (including 1,300 companies) and 1,200 employees. The VDE combines science, standardization and product testing under one roof. The key focus of the association's activities is on the energy transformation, Industry 4.0, Smart Traffic and Smart Living through IT security. VDE is particularly focused on the promotion of research and young talent, as well as consumer protection. VDE is headquartered in Frankfurt am Main. The non-profit VDE Testing and Certification Institute employs around 500 people in Offenbach. The independent test engineers of the VDE Institute test more than 100,000 appliances per year for reliability and safety before granting the VDE mark. 67 percent of Germans know the VDE symbol, which is synonymous with the highest security standards. Around the world, the VDE experts monitor more than 7,000 production sites. Cooperation agreements with more than 50 countries ensure that the tests carried out by the VDE Institute are internationally recognized. Globally, 200,000 product types with one million models carry the VDE mark. www.vde.com.
Visit the VDE booth at the Hanover Fair: Hall 13, Stand C 20.