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China Sets Solar Power Price to Boost Profits, Investment

China, the world’s biggest polluter, set a price for electricity supplied by photovoltaic projects approved under non-competitive tenders to boost industry profitability and investment.

Grid operators will pay solar developers 1.15 yuan (18 cents) per kilowatt-hour, the National Development and Reform Commission said today. The projects must have been approved before July 1 or be completed by the year-end, the NDRC said. Projects approved after July 1 will supply power at 1 yuan per kilowatt-hour, according to the top economic planning agency.