China-based independent solar power producer United Photovoltaics Group said it expected FiT back payments of RMB1.328 billion (US$199.2 million) from 16 solar power plants after confirmation of payments have been authorised by the Ministry of Finance, National Development and Reform Commission and National Energy Administration on September 23.
United PV would seem to be the first solar company to acknowledge and detail payments due under the sixth batch of the ‘Renewable Energy Tariff Subsidy Catalogue’ that have become an increasing issue for solar power plant owners in China that have yet to receive crucial subsidy contributions from operating plants.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
United PV noted that the subsidy payments related to approximately 630MW of solar power plants owned and operated in China by the company.
United PV had reported aggregate electricity generation for the six months of 2016 of approximately 611,211MWh and an installed base of 996MW.
Not surprisingly, United PV noted in a financial filing that the expected payments ‘significantly enhanced’ its liquidity position.
