New projects must be sold for market rates and not preferential rates.
China will limit state support for the development of renewable energy sources in order to open a rapidly developing market for market forces, the National Commission for Development and Reforms (GDRC) announced on Sunday. TASR reports this based on Reuters report.
New net energy projects completed after 1 June 2025 must sell electricity for market rates and not for preferential rates that served to support the energy transformation of China, she said in the GDRC statement. At the same time, the State Commission called on distributors and electricity customers to “sign the multiannual purchase contracts and preventively manage market risks”.
Last year, China has installed a record amount of energy from renewable sources and has already exceeded the target to have a solar and wind energy capacity of at least 1200 gigawatts by 2030. According to the GDRC, clean sources are responsible for more than 40 % of the total energy production capacity in the Chinese economy.
