Energy

Govt to allocate 2b yuan for energy conservation

(People's Daily Online)
Updated: 2010-06-12 17:14

The central government has decided to allocate 2 billion yuan ($292.92 million) in 2010 for energy conservation reconstruction through the energy management contracts by energy service enterprises in the fields of industry, construction and transportation, and for public institutions, according to a notice recently released by the Ministry of Finance.

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The enterprises will be entitled to subsidies if the energy conservation and modification projects they undertake, based on the savings-sharing type of energy management contracts, can each save between 500 to 10,000 tons of standard coal per year. The lower subsidy threshold for the other energy efficiency projects will be relaxed to save more than or equal to 100 tons of standard coal per year.

The subsidies will be covered by the central government and provincial-level governments, with the award standard of the central government and provincial-level governments at 240 yuan and no less than 60 yuan per ton of standard coal, respectively.