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China to subsidize solar power projects

(Xinhua)
Updated: 2009-07-22 09:49

The Chinese government started a pilot program on Tuesday to provide subsidies to solar-power projects to boost the solar industry as a new growth point for the country's economy.

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The Ministry of Finance said on its website that it will offer 50 percent of investments for solar power projects of more than 500 megawatts and the transmission and distribution network over the next two to three years.

The solar power projects in the remote regions will receive subsidies of 70 percent of the investment.

The total generating capacity of such pilot projects in each province should not exceed 20 megawatts, the ministry said.