Just a couple of days before the national Chinese New Year celebrations, the Ministry of Finance (MOF), NDRC and NEA have jointly released an announcement on non-hydro renewable power development, reaffirming that all current and new subsidized projects under the Renewable Energy Development Fund should fit within the current REDF budget (meaning that there would be no immediate increase in renewable energy surcharges collected from end users which constitute the pool of funding for the REDF, nor any injection of capital in the REDF budget).
2020 is the transitional year for China’s next five-year-plan (FYP) period (2021-2025).
On January 11, China Huaneng Group held its Second-Term Staff Representative Conference and 2020 Working Meeting, where Chairman and Party Secretary Shu Yinbiao announced the group’s record-high 2019 renewables new installed capacity of 5.02GW, which is four times its 2018 level.
In the strategic cooperation agreement signed by SPIC and COSCO Shipping, the two sides agreed to carry out wide ranging and comprehensive cooperation in the areas of markets and resources, shipping logistics, infrastructure construction and investment, equipment manufacturing, technological innovation and applications, and industrial financial investment. (SPIC)