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MOF published the 7th batch new energy subsidy list
On June 15, the Chinese Ministry of Finance published the 7th batch of the new energy subsidy list. The batch covers more than 5,000 renewable energy projects that were connected to the grid between closure of the 6th batch and March 2016, including 1,185 grid-connected power generation projects with a total capacity of approximately 53GW. 475 wind farms with cumulative capacity of 34GW account for 64% of all grid-connected power generation projects. 613 solar power projects with cumulative capacity of 17 GW account for 33% of all grid-connected power projects (MOF)
The issuance of the subsidy catalogue will help improve the cash flow of related renewable energy projects, which have not been able to secure full FIT revenue streams since they connected to the grid and started selling electricity, up to years ago. This seventh batch in particular has been awaited for a longer time than in the past, as the application was closed more than a year ago.
NEA published national power industry statistics from Jan to May
Between January and May 2018, a total of 34GW of energy projects have been installed throughout the country.
The data is incomplete as solar installations are not given, however we can extrapolate that they have exceeded 10GW, from looking at the total installed capacity. Hydro and thermal installations are slowing down compared to previous years, and wind is maintaining a steady growth.
Shaanxi Province distributed wind power development plan
In June 2018, Shaanxi Province officially issued its distributed wind power development plan, with a total installed capacity of 426 MW. (CHINAWINDNEWS)
From the documents, we can see that a majority of the projects are below 20 MW, and that 90% of them do not overcome 30 MW. This definitely is a new trend compared to the past were big 50MW projects have been preferred. We remind that smaller capacity distributed wind power projects will benefit from more government subsidies (for further information consult the news published on April 23rd).
Xi Jinping and Putin sign nuclear energy cooperation project
On June 8th, during the Cooperation Summit in Qingdao, the Chinese President Xi Jinping and Russian President Putin signed an agreement for joint construction of 4 VVER-1200 third-generation nuclear reactors in Tianwan, Liaoning province, and Xudabao, Jiangsu province. The value of the contract exceeds 20 billion RMB contract and the total cost of the 2 projects is estimated above 100 billion RMB. (CEC)
NDRC & NEA agree Tibet carry out electric reformation
On June 21st, NDRC & NEA agreed that the Autonomous Region of Tibet will join other provinces in implementing electrical power system reforms, By the end of 2017, Tibet power consumptions reached 6.201TWh and power generation reached 6.226 TWh for a total installed generation capacity of 3.09GW. (NDRC)
Electric reforms applied to a growing number of Chinese provinces form a set of policies enabling to determine energy prices through market mechanisms, therefore disrupting the monopoly of grid companies and establishing a more transparent structure for pricing of T&D.