SHANGHAI (Reuters) - Some Chinese biomass and waste-to-energy plants will no longer be eligible for renewable energy subsidies, the country's finance ministry said on Friday, as it bids to resolve a huge payment backlog.
The Ministry of Finance said in a notice that a series of co-fired plants burning a mixture of coal, forest waste and household refuse would no longer be entitled to financial support.
The ministry has been struggling to find the funds to pay a subsidy backlog now amounting to an estimated 120 billion yuan ($18.71 billion), following a rapid surge in solar and wind capacity.
(Reporting by David Stanway; editing by Richard Pullin)
