Another Chinese Solar Subsidy rumoured On Its Way

A wealthy Chinese province might be lining up another solar plan, according to rumours in the China Business News (via JLM Pacific Epoch.)

The word is that the Jiangsu province plans building and rooftop installations of 10MW in 2009; 50MW including 40MW of rooftop projects in 2010; and 200MW including 180MW of rooftop projects in 2011.

It will establish funds to provide project construction subsidies and risk guarantees, said an executive of Jiangsu’s PV Industry Association.

Jiangsu province announced plans at a Renewable Energy Industry Conference on March 26 to subsidise 260MW of solar electricity and reach annual polysilicon production capacity of 30,000 tons by 2011, the official site of meeting participant GCL Silicon Technology Holdings said on March 30.

That’s small news in and of itself, but it adds into the Chinese plan to increase its solar capacity. That plan sent Chinese solar stocks like Canadian Solar (CSIQ), Suntech Power (STP) and Yingli (YGE) soaring last month.

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