It has been recently announced that the China National Renewable Energy Center (CNREC) approved and issued the country’s first 20 green power trading certificates to renewable energy projects. This move is a part of the country’s upgraded renewable energy policies.
The said renewable energy projects will be located in the country’s six regions and provinces, including Hebei, Shandong, Jiangsu provinces and the Xinjiang Autonomous Region. The green certificate thus allotted is a tradable commodity and denotes a digital certificate by the country’s authority certifying that the power producing company on the basis of their contribution of non-hydrological energy to the country’s electrical grid. It is a certified confirmation that the company is capable of generating renewable energy from non-water-based resources. The certificate is also a digital proof of the consumption of green power.
The companies that have gained the certificates are some of the leading energy companies of the country. These include China Huadian Corporation, China Huaneng Group, China Hydropower Engineering Consulting Group, and China Energy Conservation Investment Corporation.
According to the regulatory scenario in the country, these green certificates will be allotted in batches. Solar PV and onshore wind projects in the country are eligible to apply for green certificates through a designated digital registration platform, after they receive certain approvals. The CNREC will intermittently review the eligibility criteria and the list of companies that are eligible for subsidies and the amount of energy generated every month in the process of preparing for the green certificates.