Billions Budgeted for Chinese Solar Energy

October 22, 2003 [] In an solar energy conference recently held in the Shanghai Municipality, an official with the National Development and Reform Commission (NDRC) claimed that China would budget China Yuan Renminbi (CNY)10 billion (US$1.21 billion) over the next five years to develop solar energy projects, according to Interfax-China. In a move to bolster photovoltaic (PV) technology and related industries in China, NDRC and the Ministry of Science & Technology (MOST) jointly launched a five-year “Lightning Project”, expected to raise the installed solar capacity over the country to 300,000 kW within the period. So far, the total solar generating capacity in China stands at 100,000 kW, according to Zhongdian Xinwen Wang, a power news website. Additionally, the World Bank will also provide USD 25 million in assistance to China over the next five years, which will be directed specifically towards China’s rural solar energy projects, and create a generating capacity of 10,000 kW. The plan, as part of China’s Global Environment Facility, is said to be of benefit to the 10 mln people still living beyond the reach of China’s power grids.