China’s state planning agency announced that the country is planning to buy wind-powered electricity for 0.75-0.85 yuan per KWh.
The National Development and Reform Commission (NDRC) announced that on-grid tariff will be paid to wind plants commencing operation before 2017.
NDRC added that projects launched after 2017 will see a tariff rate adjusted according to the technological improvements and cost variations.
Last year China set a benchmark tariff of 0.43 yuan per KW h for nuclear power and raised tariffs for coal operating plants to encourage clean power.
The new prices will not cover the installation costs of offshore wind plants, but will ensure that wind power generated energy is getting utilized, assured analysis wing of CI Consulting, China.
China is a country rich in offshore wind resources and this policy was designed to tap abundant wind power derivation. At present, China has an offshore wind power capacity of 400 MW that accounts less than 0.5 percent of total wind capacity of the country.
Total installed wind capacity of China adds up to 82.27 GW by May end.
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