China recently completed its first-ever cross-regional green power transaction, with the Beijing Power Exchange Center and the Guangzhou Power Exchange Center jointly facilitating the transfer of renewable electricity from Guangxi and Yunnan to Shanghai in March. A total of 52.7 million kilowatt-hours (kWh) was traded, with wind power accounting for 78% and solar power making up 22%.
Source: State Grid News
China recently completed its first-ever cross-regional green power transaction, with the Beijing Power Exchange Center and the Guangzhou Power Exchange Center jointly facilitating the transfer of renewable electricity from Guangxi and Yunnan to Shanghai in March. A total of 52.7 million kilowatt-hours (kWh) was traded, with wind power accounting for 78% and solar power making up 22%.
Dozens of major enterprises in Shanghai participated in the transaction, including Sinopec Shanghai Petrochemical, Shanghai Tobacco, BASF, Covestro, Tencent, and Teld New Energy. This groundbreaking initiative leveraged the Fujian-Guangdong interconnection project and related transmission channels to deliver green electricity from Guangxi to Shanghai. As a first-of-its-kind effort, the transaction represents a significant step in optimizing the allocation of renewable energy on a larger scale and marks an important milestone in the development of China’s unified national electricity market.
The pilot program’s exploration of cross-regional green power trading is a key step toward establishing a unified electricity market. By expanding Shanghai’s sources of renewable energy and better serving enterprises’ green power needs, it also lays a solid foundation for building a long-term cross-regional trading mechanism nationwide.
Looking ahead, the Beijing and Guangzhou Power Exchange Centers plan to refine the trading mechanism based on pilot results. Their efforts will focus on expanding trading options, enhancing platform functions, and institutionalizing cross-regional green power transactions to further optimize renewable energy distribution on a broader scale.
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