Reuters reported today that the Chinese authorities intend to stop distributing subsidies for new wind and solar energy projects from April 1, 2021.
Advanced Soltech has received very limited subsidies for its projects that are built after the third quarter of 2018. We have a good profitability in the projects without subsidies and never rely on receiving subsidies in new projects. The already approved subsidies for projects that were built before the new law, remain unchanged.
Advanced Soltech welcomes this development that supports a sound market that is not dependent on subsidies and receives strong support from Chinese authorities in our work to help the transition to a sustainable electricity market.
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