Boost for alternative energy

China Energy Conservation Investment Corporation plans to invest at least US$2.47 billion over the next five years to build new alternative energy projects, including wind, biomass and garbage treatment, state media reported. A senior official said a third of the cost would be met from internal capital and the rest from bank loans or other sources, including strategic investment. The projects would benefit from an energy law, to be enacted on Sunday, requiring grid companies to charge more for electricity from renewable energy than coal-fired plants.