China makes significant move to reduce emissions

The world’s biggest carbon emitter, China, has set a price for electricity generated from waste to energy plants that’s double that paid to coal fired projects in a move aimed at encouraging renewable energy development.

“It’s the first time that China has established a fixed price for waste-to-power plants,” Jessica Ng, an analyst at New Energy Finance, said by phone, reports Bloomberg. “It will help energy companies to share the cost burden of the feedstock.”

The government is seeking to cut carbon dioxide emissions by as much as 17 per cent per unit of gross domestic product in its five-year plan through 2015. China aims to derive 15 per cent of its energy from non-fossil fuels by 2020.

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