Shanghai has clarified the subsidy for offshore wind power: 500 yuan/kW to support projects put into operation in 2022-2026

Recently, the Shanghai Municipal Development and Reform Commission issued a notice on the Measures for the Support of Special Funds for the Development of Renewable Energy and New Energy in Shanghai, which clearly supports offshore wind power projects, including offshore wind power projects built in the waters under the jurisdiction of Shanghai and deep-sea offshore wind power projects built in the waters under the jurisdiction of the state and consumed in Shanghai.

Reward standard: The reward standard for offshore wind power projects with a distance of 50 kilometers or more from the offshore distance of the site center is 500 yuan/kW. The annual reward amount for a single project shall not exceed 50 million yuan. According to market costs and changes in national policies, the Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Finance Bureau may make appropriate adjustments to the annual reward standards for new application projects, and the adjustment range shall not exceed 15%.

In terms of application procedures, the notice proposes that the investor of an offshore wind power project shall submit an application for the application of an incentive project to the Development and Reform Commission of the region where the project is connected to the grid within one year of the project being connected to the grid.

The notice proposes that the Shanghai Municipal Development and Reform Commission shall publicize the catalogue of the proposed new reward projects on the department's website, confirm the final results according to the publicity and send a copy to the Shanghai Municipal Finance Bureau, the District Development and Reform Commission and the power grid enterprises. For offshore wind power included in the award catalog, the incentive funds shall be calculated according to the capacity indicated in the electric power business license。

The measures for the support of special funds for renewable energy and new energy development in Shanghai are applicable to renewable energy projects put into operation in the city from 2022 to 2026, and will be implemented from December 15, 2022 and will be valid until December 31, 2026.

The original text of the Notice is as follows:

Notice on the issuance of the "Measures for the Support of Special Funds for the Development of Renewable Energy and New Energy in Shanghai".

The people's governments of all districts, relevant commissions and bureaus, and all relevant units:

With the consent of the municipal government, the "Measures for the Support of Special Funds for the Development of Renewable Energy and New Energy in Shanghai" are hereby issued to you, please conscientiously follow the implementation.

Shanghai Municipal Development and Reform Commission

Shanghai Municipal Bureau of Finance