Nuke plant referendum talk aids solar stock
The China Post news staffTAIPEI, Taiwan -- Shares in local photovoltaic firms surged yesterday after the government Monday fleshed out the idea of a referendum on whether construction of the Fourth Nuclear Power Plant should continue.
February 27, 2013, 12:13 am TWN
At the end of trade, Tainergy, Neo Solar and Motech rose 1.14 percent, 1.62 percent and 2.67 percent, respectively, to NT$13.45, NT$22 and NT$30.8.
Debates on the power plant have lasted for decades and intensified after the March 11, 2011 earthquake in northeastern Japan. The quake led to a malfunction of the system that pumped seawater into nuclear power plants in Fukushima Prefecture, causing the core of the reactors to expose.
Monday, the ongoing nuclear talks received further attention after Premier Jiang Yi-huah fleshed out the idea of holding a referendum on the Fourth Nuclear Power Plant, seeking to put an end to the debates once and for all.
According to media reports, Kuomintang lawmakers may introduce the referendum bill in March, paving way for a vote on the issue in August at the earliest.
According to Taiwan's referendum law, an issue to be decided by a referendum will pass if half of Taiwan's eligible voters show up to vote and if half of those people vote yes.
While the complete scrapping of the plant is unlikely, experts said yesterday that the issue will shed light on the importance of solar and wind power generation. Anticipation that demands for green power will increase boosted solar shares yesterday, amid an overall retreat of the broad market.