MoF releases partial budget for 2020 renewable energy subsidy distribution

MoF releases partial budget for 2020 renewable energy subsidy distribution

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The Ministry of Finance (MoF) has released the 2020 renewable energy subsidy budget of 5.7 billion CNY, to be distributed amongst local power grids in West IMAR, Jilin, Zhejiang, Guangxi, Chongqing, Sichuan, Yunnan, Shaanxi, Gansu, Qinghai and Xinjiang.

Of the total budget amount, 4.9 billion CNY, or 88%, has been set aside for IMAR. According to MoF, priority will be given to solar poverty alleviation projects and private user distributed solar. However it is important to note that the subsidy payments will not be released until 2020, and that this only represents a small portion of the subsidies to be distributed during 2020. (MoF)