Pricing for offshore wind projects set
September 11, 2014 Category Alternative energy, Environment
The National Development and Reform Commission (NDRC) released a pricing scheme for offshore wind power projects with no-bid contracts that will be in operation before 2017. The on-grid price (tax-included) for intertidal wind power projects is CNY0.75 per kilowatt-hour, while that for coastal schemes is CNY0.85 per kWh. For projects to be put into operation after 2017, the pricing scheme will be formulated separately. The new prices would give offshore projects an annual return of at least 12%. China should have 5,000 MW of offshore wind farms by the end of next year, rising to 30,000 MW by the end of 2020. The China Wind Energy Association said China installed 39 MW of new offshore wind farms last year, down 69% from 2012. The cumulative installed total was 428.8 MW at the end of last year, of which 300.5 MW were on inter-tidal shores and 128.1 MW in near-shore waters. China has the world’s fifth-largest bank of installed offshore wind farms, after Britain, Denmark, Germany and Belgium. Offshore projects cost twice as much to build as onshore ones and are more challenging technically, which means they require higher power prices to achieve the same rate of return. Offshore wind power projects set to launch this year are expected to add 1,566 megawatt (MW) of capacity, or more than three times the national total as of the end of 2013, according to the Chinese Renewable Energy Industries Association. The country’s offshore wind capacity was 428.6 MW at the end of 2013, less than a tenth of the government’s 5,000 MW target for 2015.
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