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It is understood that this special fund is composed of the Shandong Provincial Budget Fund and the Shandong Provincial Infrastructure Fund and is incorporated into the province’s budget management. The funds will focus on supporting research and development of new energy technologies, promotion and application of new products, and expansion of industrial scale, including high-end wind power equipment manufacturing, solar photovoltaic utilization, ground source heat pump applications, new energy innovation platform construction, nuclear power equipment manufacturing and other projects.
Regarding the support criteria, Shandong has determined to provide new energy innovation technology that fills gaps in domestic technology and rapidly realizes industrialization, and provides no more than 2 million yuan in financial awards; major new construction projects for wind power equipment, photovoltaics, nuclear power equipment, geothermal heat pumps, and other new energy industries. According to the current benchmark interest rate for the medium- and long-term loans of the People's Bank of China, interest subsidies for loans will be carried out; for wind power desalination innovation demonstration projects and innovative demonstration projects for comprehensive utilization of biomass energy, subsidies not exceeding 20% ​​of the total investment will be given.
The Department of Finance of Shandong Province requires that the units that apply for support funds must have a sound corporate governance mechanism and standardized management, and that the company is in a stage of scale economic development. The project unit has strong fund raising, project implementation capability and a good credit rating. The Shandong finance department will follow up on the use of funds, fraudulently defrauding the subsidy funds for deductions and subsidy funds, and cancel the eligibility for future reporting.
Shandong invests special funds to support the development of new energy industries
On the 18th, it was learned from the Department of Finance of Shandong Province that Shandong Province will adopt special forms of funds to support the government in the form of subsidies, incentives, subsidies, and loan discounts to support nuclear energy and solar energy for system development and utilization based on new technologies. Geothermal energy, biomass energy and other renewable energy industry development.