Shenzhen’s Nanshan Power to get $49 million in subsidies

A power utility in the southern Chinese city of Shenzhen will receive up to $49 million for the electricity it produced from burning gas last year.
By Li Xin 20 January 2014 0 6142

Nanshan Power, based in the southern city of Shenzhen, expects to receive a maximum of RMB 295.5 million ($48.98 million) in subsidies from the local government for electricity generated from gas in 2013, the utility said on Friday.

The subsidies will ease operational difficulties caused by increased costs, Nanshan Power said. The subsidies will also help the company meet normal operating and production schedules.

Nanshan received RMB 375.13 million in subsidies from the local government in 2012, according to the company’s annual report that year.

The company sources...

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