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China to invest heavily in solar energy exploitation

BEIJING, Jan 8, 2004 (Xinhua via COMTEX) China is ready to invest 10 billion yuan in solar energy exploitation in the next five years, an official of the State Development and Reform Commission disclosed.

In order to promote development of photovoltaic technology and industry, the commission and the Ministry of Science and Technology have mapped out solar energy exploitation plan for the next five years, and by 2005, total installed capacity of photovoltaic sector is expected to top 300 MW.

Besides, in order to explore China's solar photovoltaic market, the World Bank initiated an environment fund project in 2001 and is ready to offer China 25 million US dollars in subsidy to install 10 MW of photovoltaic capacity in rural area. Upon completion of the project, some 10 million impoverished population in China will get access to electricity.

It is learned that China's installed capacity of solar energy has reached one million kW.

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