The grant was announced the National Energy Administration (NEA) and the Chinese finance ministry. It is the second GEF grant for Cresp, with the majority of the funds to be split between wind and solar.
According to Liang Zhipeng, deputy director of the NEA's new and renewable energy division, the money will mainly be used to support activities in five areas. These are: policy research, grid connection and power consumption, technology upgrades, pilot and demonstrative development, and project investment.
With the new GEF fund, Cresp expects to achieve breakthroughs in eliminating deep-seated constraints and improving mechanisms and policies relating to renewable energy quotas, power rates, management and distributed development.