China launches subsidy-free solar, wind power after project costs fall

Image result for A man rides an electric scooter past a wind turbine in Shanghai, China August 11, 2017.
A man rides an electric scooter past a wind turbine in Shanghai, China August 11, 2017. REUTERS/Aly Song

The new subsidy-free projects will generate renewable power for sale at the same prices as non-subsidised coal-fired power plants, and will not have to comply with capacity quota restrictions, the National Development and Reform Commission (NDRC) announced on Wednesday. It added that the projects would, however, receive support on land and financing.

“Some regions with good natural resources and firm demand have already achieved subsidy-free, or grid price parity, conditions,” said the NDRC, adding the pilot projects could help renewable energy to compete with coal-fired power. MORE

 

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