www.reuters.com
Sep 30, 2009
BEIJING (Reuters) - China launched on Wednesday the country's biggest on-grid solar energy project with electricity capacity of 10 MWs in Shizuishan of Ningxia, the official Xinhua News Agency reported. The project, run by the China Energy Conservation Investment Corp, was only the first phase of a total 50-MW project, Xinhua said. "After the completion of the first phase, construction for the second and third phases will be finished by 2011," it added. China's panel maker SunTech Power Holdings Co Ltd supplied the panels for the project and also holds a minority share of the project.
Eager to reduce its reliance on cheap but dirty coal, which provides over 70% of the country's power, China is pressing ahead to boost supplies of clean power from solar, wind, nuclear and other renewable sources by providing incentives. The Ministry of Finance said in July it would provide big subsidies for the construction of utility-scale solar energy projects after announcing subsidies for solar energy projects attached to buildings in May. China in July announced benchmark tariffs for on-grid wind energy projects. Developers previously had to compete for grid access. Shares of SunTech were up 0.8% to $15.57 in late Wednesday morning trading on the New York Stock Exchange.
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