China to Subsidize Wind Turbines
August 29, 2008
The Chinese government said Friday it will subsidize wind power equipment makers as the country continues its drive to generate 15 percent of its energy needs from renewable sources by 2020.
"This is quite significant," said Caitlin Pollock, Asia wind energy analyst for Emerging Energy Research, based in Cambridge, Massachusetts.
"It will spur further growth." The policy marks the first Chinese subsidy exclusively targeting wind power and highlights the Asian country’s increasing interest in wind as a major source of energy. The government has set an official target of 30 gigawatts of installed wind capacity by 2020.
Last year China had a total of 5.9 gigawatts of installed capacity, according to Emerging Energy Research. The research group expects the country will nearly double that figure this year to 11.1 gigawatts.
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