Xinhua Economic News (2008/11/24)
BEIJING, Nov 24, 2008 (Xinhua via COMTEX) -- China will provide 2.023 billion yuan of 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. The transaction volume will amount to 873 million yuan.
Electricity grid enterprises are required to honor the subsidies and quota transactions within ten working days.
China has subsidized 38 renewable energy power generation projects with total installed capacity of 1.414 million kilowatt hours in 2006 with 260 million yuan.
China introduced Renewable Energy Law starting from January 1, 2006 and issued pricing mechanism and amortization measures on renewable energy power generation later to prompt the development of renewable energy sector.
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