According to a motion passed at the 12th conference of the Standing Committee of the 11th National People's Congress, China's Renewable Energy Law will be revised and the new law will be enacted on April 1, 2010.
The new law will specify the development and utilization of various renewable energy resources and will further clarify the system of absorption acquisition, which was covered by the old law but has not been successfully carried out due to lack of clarity on the relationships between enterprises.
The new law states that the energy supervision department of the State Council will work with national electric power supervision organizations and the financial department to set the proportion of renewable power generation in the total electric power generation, based on the national renewable energy development and utilization plans, and make detailed rules on the absorption acquisition of renewable power.
In addition, the new law says that a renewable energy fund will be established for the development of renewable energy resources.
