State Grid Corporation of China concludes first green electricity transactions with a volume of 6.898 bln kWh

China's green power trading market was officially launched on September 7, attracting 259 market players from 17 provinces. State Grid Corporation of China concluded its first green electricity transaction with a volume of 6.898 billion kWh.

Ningxia Baofeng Photovoltaic Power Station

Deepening Mechanism Innovation to Highlight the Value of Green Power

Green power trading is a major mechanism innovation of important practical significance to improve China's electricity market system, realize the effective dovetailing between supply and demand of green power, give play to the decisive role of the market in allocating resources, and promote energy transition and new power system construction. Green power trading creates a stable "booster" for the new energy industry through mechanism innovation, provides long-term market incentives, and promotes green and low-carbon energy transition.

Zhang Kaipeng, senior vice president of Schneider Electric in China, said that the demand of Schneider Electric's five factories in Shanghai for green power has been effectively met with this transaction. In the future, Schneider Electric will fully adopt green power in its more than 30 factories across China as soon as possible, and jointly promote green power transactions to create a "snowball" effect on a larger scale.

Statistics show that this transaction is expected to reduce the burning of standard coal by 2.436 million tonnes and carbon dioxide emissions by 6.0718 million tonnes, thus starting a new mode of green power consumption in China. In the next stage, State Grid Corporation of China will, under the guidance of the National Development and Reform Commission and the National Energy Administration, give full play to the role of the power grid as a hub platform for optimizing the allocation of energy resources, and with the security of the power grid guaranteed, it will adopt an operation mode in a reasonable manner to ensure the prioritized implementation of the plan for green power transactions and to promote the efficient implementation of green electricity transactions.