June 25, 2009 / 3:10 AM / 8 years ago

China hands out $293 million subsidy for renewable power

1 Min Read

BEIJING (Reuters) - China distributed 2 billion yuan ($293 million) in subsidies for power generated by renewable energy sources in the second half of 2008, a notice on the State Electricity Regulatory Commission website said.

The subsidy covers 8.444 billion kilowatt-hours of electricity output during that period by more than 200 power projects, the posting said.

China, the world's No.2 energy user and the largest emitter of carbon dioxide, is mapping out a plan to stimulate its renewable energy sector, including wind and solar power.

The government is expected to announce subsidized prices for solar power production by as early as the second half of 2009, media reports have said.'

Reporting by Chen Aizhu; Editing by Chris Lewis

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