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China denies coronavirus impact on offshore wind, slashes subsidies

A recent wave of announcements has suggested that China remains undeterred by the impacts of Coronavirus on its offshore wind sector, with the government stating last week that it will scrap subsidies for offshore wind projects this year. This in itself will cause a dip in installations in the short-term, but may also facilitate a largescale boom of projects – if the country can avoid panic-buying coal capacity in the wake of a global pandemic.   In its budget for 2020, the country’s National Energy Administration announced last Tuesday that this year’s subsidies for offshore wind projects will be scrapped entirely with onshore wind set to follow suit in 2021. The national subsidies for solar will also face a 50%…

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