09 August 2011 06:42 [Source: ICIS news]
SHANGHAI (ICIS)--The National Development and Reform Commission (NDRC)’s new benchmark on-grid prices for the photovoltaic sector may encourage China’s solar projects to flourish, industry sources said on Tuesday.
Developers of solar power projects that were approved before 1 July and will be completed by the end of the year can now sell to grid operators at yuan (CNY) 1.15/kilowatt hour (kWh) (18 cents/kWh), according to a statement by NDRC.
For projects that were approved before 1 July and will be completed after 2011, the on-grid price is CNY1/kWh, the statement added.
The move is expected to boost solar power development because the on-grid prices can result in profits for the developers.
“The photovoltaic demand is surging nowadays, we need a standard policy on this sector indeed,” one market player said.
China’s government plans to add more than five gigawatts of new solar power capacities by 2015.
($1 = CNY6.44)
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