United Photovoltaics expects US$200 million in China FiT back payments

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
United PV had reported aggregate electricity generation for the six months of 2016 of approximately 611,211MWh and an installed base of 996MW. Image: United PV

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.

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.

Read Next

January 13, 2022
Reliance Industries has signed a Memorandum of Understanding (MoU) with the government of Gujarat for a total investment of INR5.955 lakh crore (US$80 billion) over 10-15 years to establish 100GW of renewables and set up green technology manufacturing facilities in the state.
March 18, 2021
‘Solar Module Super League’ (SMSL) member Canadian Solar is guiding a significant increase in PV module and energy storage shipments, resulting in full year 2021 revenue of between US$5.6 billion to US$6.0 billion, over 70% higher than revenue reported for 2020.
January 27, 2021
Corporations bought 18% more clean energy last year compared with 2019, according to new research, with tech giant Amazon and oil and gas group Total leading the global energy transition.
January 27, 2021
PV-Tech’s flagship PV ModuleTech conference returns, through an online platform, on 9-11 March 2021, with a focus on providing utility-scale site developers and investors a comprehensive understanding of the new module formats being sold to the market today.
January 26, 2021
‘Solar Module Super League’ (SMSL) member LONGi Solar has secured a 500MW monocrystalline bifacial module order from US-based project developer and EPC, Strata Solar.
PV Tech Premium
January 14, 2021
Following on from our recent piece on what is driving the largest ever wave of manufacturing capacity expansion announcements in the PV industry, a few real-world examples may shine further light on this topic.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
January 26, 2022
Free Webinar
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal