China Everbright Greentech (HKG:1257) said it recovered about 2.1 billion yuan in additional renewable energy tariff subsidies between July and August, according to a Sept.5 Hong Kong bourse filing.

Shares of the firm were up over 9% in Monday morning trade.

The payments, received by 33 subsidiaries engaged in biomass, solar, and wind projects, were confirmed by settlement notices from State Grid Corporation of China and have been fully collected.

The company said the recovery will improve project cash flow, reduce liabilities, and support future operations.

The subsidies had already been recognized as tariff income in the respective years when electricity sales were recorded.