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China

China to stop subsidies for new solar power stations, onshore wind projects in 2021

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Workers walk at a solar power station in Tongchuan, Shaanxi province, China December 11, 2019. REUTERS/Muyu Xu

BEIJING, June 11 (Reuters) - China will no longer grant subsidies for new solar power stations, distributed solar projects by commercial users or onshore wind projects from the central government budget in 2021, the state planner said in a statement on Friday.

Electricity generated from the new projects will be sold at local benchmark coal-fired power prices or at market prices, the statement said.

The new rule will take effective from Aug. 1.

Reporting by Muyu Xu and Shivani Singh; Editing by Tom Hogue

Our Standards: The Thomson Reuters Trust Principles.

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