First-of-a-kind deal to supply green energy South China to Shanghai

The nation's first cross-business-region green power transaction has been signed with green energy generated in South China supplied to companies in Shanghai, according to the State Grid Shanghai Municipal Electric Power Co.

A total of 52.7 million kilowatt-hours of electricity generated from renewable sources in Guangxi Zhuang autonomous region and Yunnan province would be transferred to Shanghai throughout March, powering dozens of major enterprises including Sinopec Shanghai Petrochemical, BASF, Covestro, Tencent.

Among the green power, 78 percent is wind power and 22 percent solar power. It is hoped the deal will effectively optimize green energy allocation through cross-region transaction, and further pave the way for a unified national energy market development.

The pilot green power transaction would better serve the green energy consumption demand for enterprises in Shanghai, and accumulate valuable experience for cross-business-region energy transaction in the long-term.