Under the guidance of the carbon peak and carbon neutral goals and tasks, the wind power, photovoltaic power and other industry policies have been blowing in the past week. The National Development and Reform Commission and other five departments jointly issued the "Notice on Guiding Increased Financial Support to Promote the Healthy and Orderly Development of Wind Power and Photovoltaic Power Generation Industries" (hereinafter referred to as the "Notice"), clarifying that financial institutions can comply with commercialization principles and renewable Energy companies negotiate extension or renewal of loans, and autonomously issue subsidized loans to confirm rights in accordance with the principles of marketization and legalization. The Ministry of Industry and Information Technology issued the "Specification Conditions for the Photovoltaic Manufacturing Industry (2021 Edition)", proposing to guide photovoltaic companies to reduce photovoltaic manufacturing projects that simply expand production capacity, strengthen technological innovation, improve product quality, and reduce production costs. The National Energy Administration also revealed that it will formulate more active new energy development goals to promote onshore wind power and photovoltaic power generation to achieve parity and no subsidy to go online.

Industry insiders believe that this series of policies will help solve problems such as arrears of electricity price subsidies by renewable energy companies, and promote the healthy and orderly development of the industry in the stage of full parity. Driven by the goal of carbon peaking and carbon neutrality, the wind power and photovoltaic industries are expected to usher in more benefits in the future, and installed capacity will achieve high growth.

The “Notice” clarifies that for renewable energy companies that have greater short-term repayment pressure but have future development prospects, financial institutions can follow the principle of risk control, and on the basis of independent negotiation between banks and enterprises, based on the actual and expected cash flow of the project. Loan extension, loan renewal or adjustment of repayment schedule and deadlines.

According to the requirements, the enterprises where the renewable energy project has been included in the subsidy list can apply for subsidy confirmation loans for the financial subsidy funds that have been confirmed and receivable. Financial institutions use the approved list of subsidies and certificates of subsidies receivable and unreceived by the enterprise as credit enhancement measures, and in accordance with the principles of marketization and rule of law, the amount of loans is determined independently by the upper limit of the financial subsidy funds receivable and receivable by the enterprise. .

In order to ensure the source of renewable energy subsidies, the "Notice" requires that renewable energy price surcharges be levied in full, and at the same time, it is clear that companies will voluntarily choose whether to voluntarily convert to parity projects based on actual conditions. For those who voluntarily turn to parity projects, the loan quota and loan The interest rate can be determined through independent negotiation.

It is worth noting that the "Notice" also proposes to appropriately make up for the interest costs shared by enterprises through the issuance of green power certificates. It is understood that my country's voluntary subscription and trading system for renewable energy power green certificates has been implemented since July 2017, and its positioning is to replace all green certificate revenues with electricity price subsidies, resulting in high green certificate prices and low transaction volume.

Shi Jingli, a researcher at the Energy Research Institute of the National Development and Reform Commission, believes that the subscription, transaction and use mechanism of the voluntary green certificate system needs to be systematically designed and adjusted as soon as possible to meet the requirements of the new situation.

Regarding the green certificate issuance and transaction plan, Yi Yuechun, deputy dean of the General Institute of Hydropower and Water Resources Planning and Design, suggested that the relevant management regulations of the national green certificate transaction and the interest sharing needs of enterprises should be considered and determined.

Article information source-Economic Information Daily



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