Billions in subsidies for renewables

China’s renewable energy industry could soon receive a shower of money worth ¥350 billion (about €50 billion). Developers and operators of wind and solar farms have been waiting for years for the overdue subsidy payments. The government had promised massive subsidies in the 2010s. In 2017, the money ran out. Since then, overdue subsidy applications totaling ¥380 billion have been piling up. Now, the two major grid operators, State Grid and Southern Grid, have set up two organizations to forward the overdue payments, according to consulting agency Trivium China.