Chinese firms lead the global push for green power certificates

Chinese companies are actively promoting green power certificate trading around the world.

Green power certificates are "electronic ID cards" for renewable energy companies' green electricity. They are used to calculate and verify the generation and use of new energy.

Each "green power" certificate represents 1,000 kWh of renewable electricity that has been connected to the grid and consumed.

The Netherlands was the first to implement green power certificate trading in 2001, and more than 20 countries, including the United States, Japan, the United Kingdom, and Australia, have since followed suit.

In response to a UN plan to get rid of all carbon emissions by 2050, companies bought "green power certificates" to make up for the emissions from using non-green electricity.

Universal Energy, a Shanghai-based renewable energy company, recently announced several advances in its international green power certificate trading, including a February agreement with a global carbon trader.

Universal Energy said it sold the carbon assets accumulated from the generation of 7,000 megawatt-hours of solar energy from its power station in a Central Asian country, which were enough to offset approximately 5,950 tons of CO2.

The agreement has enabled the company to participate in the market and expand the trading of carbon assets.

It is currently in active contact with a Singaporean trader and has achieved sales intent for international green power certificates.

Meanwhile, according to the company, a European Fortune 500 multinational group has expressed strong interest in the transaction involving Universal Energy's carbon assets, and they are in close negotiations for the supply of green power certificates over the next five years.

Universal Energy has been investing in renewable energy projects along the Belt and Road since 2015.

The current global capacity of grid-connected power stations and those under construction is up to 1.1 GW, with 1.6 GW in reserve.

The company can meet a wide range of global companies' and institutions' requirements for international green power certificates.