China’s Ministry of Finance, Ministry of Science and Technology, and National Energy Administration jointly announced the approval today of 2.84GW of projects under a new round of its Golden Sun subsidy programme.
The level of new approvals is much higher than anticipated, with industry rumours last month suggesting about 1GW could be awarded.
The programme, which started in 2009, usually approves one batch of projects each year. Beijing has rushed through a second batch of projects at the end of 2012 under pressure from an industry struggling with huge overcapacity and debt.
Yingli has supplied about a quarter of the total panels used under the programme since it started, and today says it expects to supply more than 10% of the latest round of projects.
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