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China to extend US$296 mln subsidy to renewable power projects

Nov 25, 2008 - Asia In Focus

China will provide 2.023 billion yuan (US$296 million) in subsidies to 148 renewable energy power generation projects from October 2007 to June 2008, according to a notice issued by the National Development and Reform Commission and the State Electricity Regulatory Commission. Included are 102 wind power programs, 43 biomass power programs, three solar energy power projects with overall installed capacity and on-grid electricity of 5.6972 million kilowatt and 7.721 billion kilowatt hours.

* The subsidy policy is designed to compensate the partial on-grid renewable energy electricity price, operating and maintenance fees of independent public renewable energy power system, power grid connection fee as well as losses of straw-fired power generating programs.

* In addition, 12 provincial power grid enterprises are allowed to introduce the additional electricity fee from other their counterparts of other provinces through quota trading to make up their fund shortage.