GCL New Energy receives US$142.5 million in China tariff back payments

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
GCL New Energy noted that it had 1,773MW of power plants registered in the Renewable Energy Tariff Surcharge Subsidy Catalogue with approximately RMB 3,050 million (US$439.1 million) in tariff payments outstanding at the end of June, 2018. Image: GCL New Energy

International renewable energy provider GCL New Energy, a subsidiary clean energy conglomerate GCL Group has recently received the first tranche of tariff back payments in China totalling RMB 990 million (US$142.5 million).

A key factor in China’s 531 New Deal, which cut support for large-scale PV and DG projects was due to the ballooning FiT payment backlogs with utilities, which had reached approximately US$17.5 billion at the end of 2017. 

GCL New Energy noted that it had 1,773MW of power plants registered in the Renewable Energy Tariff Surcharge Subsidy Catalogue with approximately RMB 3,050 million (US$439.1 million) in tariff payments outstanding at the end of June, 2018.

6 October 2021
The future is bright for a new era of US solar and storage, and the 8th annual Solar & Storage Finance Summit will provide opportunities to discuss solutions to the industry’s challenges and provide a networking platform designed to bring together the top minds in the industry to do business. With a mix of high-level, informative presentations and panels, a stellar cast of speakers and audience members with deal-making capacity, the 2021 edition of the event will be a sell-out success.

Read Next

July 26, 2021
Meyer Burger is considering its legal options after long-time heterojunction tandem solar cell manufacturing partner Oxford PV ended its collaboration agreement unexpectedly.
July 23, 2021
China could install up to 65GW of solar this year, driven largely by a surge in demand for distributed solar installations, while average solar deployment could reach 90GW per year in the years leading up to 2025.
July 21, 2021
Higher-than-expected deployment figures last year have put the global solar sector comfortably within reach of the terawatt scale in 2022, SolarPower Europe (SPE) has said in its Global Market Outlook report.
July 16, 2021
Finlay Colville, head of market research at PV Tech Research, explores the critical themes behind the solar industry’s transition from p-type to n-type cell production before previewing PV CellTech Online 2021.
July 15, 2021
Legislation that would ban the import of all products from China’s Xinjiang region into the US has taken a critical step forward, passing the US Senate.
July 13, 2021
Solar PV capacity in Asia Pacific could triple to 1,500GW by 2030, with China driving deployment and Indonesia set to be the region’s fastest-growing market, according to Wood Mackenzie.

Subscribe to Newsletter

Upcoming Events

Solar Media Events, Upcoming Webinars
July 29, 2021
Webinar
Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021