China sets offshore wind feed-in tariffs to encourage investmet
Jun 19, 2014 - The Chinese government decided to introduce feed-in tariffs (FiTs) for offshore wind projects of CNY 0.75 (USD 0.12/ EUR 0.09 ) per 1 kWh for inter-tidal plants and CNY 0.85 for near-shore farms to boost growth of non-tender projects.
China’s National Development and Reform Commission (NDRC) said in a statement today that the FiTs will come into effect from 2017 for projects outside government tenders. The FiTs aim to attract new investors and promote offshore development.
China’s low tariffs and complicated permission process have stalled the offshore wind industry and put in question meeting China’s target of 5 GW of installed offshore capacity by 2015. Currently, the country has 1.56 GW of offshore projects in construction and 3.5 GW in the pipeline, according to data of industry lobby Global Wind Energy Council (GWEC).