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Shares of Renesola Ltd <SOL.N>, Jinkosolar Holding Co Ltd <JKS.N>,
Canadian Solar Inc <CSIQ.O> and SunPower Corp <SPWR.O> were up
between 2% and 3% in premarket trading.
Biden and President Donald Trump were asked at their matchup in
Nashville, Tennessee, what they would do to combat climate
change - the first time in a presidential debate they were not
asked if they believed in it or not.
Biden said the country should eventually replace oil with solar,
wind and other forms of non-polluting power.
"I would transition from the oil industry," Biden said, adding
his plan for a more climate-friendly economy would create
high-paying jobs and boost U.S. businesses.
Shares of oil companies were broadly unchanged as U.S. crude
<CLc1> ticked up 0.4% to $40.79 with demand concerns raised by
surging coronavirus cases in the United States and Europe being
offset by the prospect of an extension to OPEC-led supply curbs.
After the debate, Biden told reporters, "We're not getting rid
of fossil fuels."
"We're getting of the subsidies for fossil fuels. But we're not
getting rid of fossil fuels for a long time...they're not going
to lose their jobs. Besides, a lot more jobs are going to be
created in other alternatives."
Trump, during the debate, cited a federal program to plant trees
and a drop in carbon emissions to say he loves the environment,
but added he was not willing to harm businesses.
He accused Biden of planning to ban hydraulic fracturing, a
process of extracting oil and natural gas from shale that is
opposed by many environmentalists. Biden, however, said he would
ban fracking on federal land only.
(Reporting by Arunima Kumar in Bengaluru; Editing by Arun Koyyur)
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