China vows to back solar sector

Chinese Premier Li Keqiang has pledged new measures to support the country’s solar industry.

Li – number two in the country's leadership – said the government would do more to help the industry in the face of excess production capacity in the global market and European trade action against Chinese PV equipment.

Beijing vowed to help expand the development of distributed PV, while also improving grid access and encouraging utilities to buy electricity generated by solar projects.

It promised to back efforts to support solar electricity prices by setting regional benchmarks.

The Chinese government wants financial institutions to provide funding support to PV manufacturers.

However, it also said it would encourage consolidation through mergers Log in to read complete article.

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