China to Pay $1.4 Billion in Subsidies for Renewable Energy

19 Dec. 2012 by

BLOOMBERG - China, the world’s biggest carbon emitter, will pay 8.6 billion yuan ($1.4 billion) in subsidies for electricity generated from renewable power this year.

Regional financial authorities will allocate the funds to provincial and independent power-grid companies, according to a Ministry of Finance statement posted on the central government’s website. The government will provide 5.9 billion yuan for wind- power and 2 billion yuan for biomass-energy projects, with the rest subsidizing solar farms.


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