People’s Bank of China Goes All-In On Clean Energy

In a major boost for renewable energy, the People’s Bank of China (PBOC) has announced that it will increase financial support for wind and solar power development to meet carbon emissions targets. Citing the cash crunch that is currently hindering renewable energy companies, new favorable financing measures will include preferential subsidies for promising wind and solar companies, increased credit and loan support, and arrangements with financial institutions for loan extensions, refinancing for adjustments in cases where solid clean energy…