China’s largest private investor group is developing a 2 GW solar farm in the Ningxia region which will be made up of some 6 million solar panels.
Reports in the local Chinese media suggest that a record-low bid of 0.52 yuan/kWh for solar has been accepted in Inner Mongolia.
The people who approved and pushed for the approval of the £18 billion (and rising) project stand to benefit from its approval. Financially.
The great global race against time has very much begun now. The US and China ratify Paris deal, capital flow shift, China cancels nuclear plant and even conservative press hails transition to sun, wind and water within a generation.
China considers compulsory quotas for carmakers, requiring them to produce more electric vehicles or purchase carbon credits from their peers.