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Suntech Lays Claim to 20% of BIPV Subsidy
Suntech Power Holdings (NYSE:STP) expects to develop roughly 20% of the 91MW of solar projects that have been approved under China's Solar Rooftop Program, the company announced November 13. System owners are expected to receive an RMB 13-17/W rebate for projects under the program, Suntech said.
Suntech has completed 4MW of its approved projects and plans to develop the remainder by mid-2010, said the announcement.
Reports the previous week said that 111 rooftop-based or building-integrated photovoltaic (BIPV) projects with a combined capacity of 91MW have been allocated subsidies totaling nearly RMB 1.3 billion nationwide. The same report quoted a Suntech executive as saying that China is in the process of issuing subsidies of RMB 13 per watt for rooftop-based photovoltaic projects.
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