First green power deal signed between Shanghai and Xizang

The first green power transaction between Shanghai and the Xizang autonomous region was recently completed, with clean energy generated in Southwest China now connected to Shanghai's power supply, according to the State Grid Shanghai Municipal Electric Power Co.

The deal, reached as the Xizang autonomous region marks its 60th anniversary, covers a total of 7.85 million kilowatt-hours of electricity generated from renewable sources in the region. It underscores the important role of the nationwide unified power market in optimizing the large-scale allocation of green energy resources, according to State Grid Shanghai.

The successful transaction makes full use of surplus capacity in cross-regional transmission channels, ensuring a stable supply of green electricity from Xizang to Shanghai. A total of 37 business entities participated in the deal, including power generators such as China Huadian Corp Ltd, China Huaneng Group Co Ltd, China Energy Investment Corp Co Ltd, State Power Investment Corp Ltd, and China General Nuclear Power Group, as well as power consumption companies. Green energy from the Qinghai-Tibet Plateau will help Shanghai better meet its growing demand for clean power.

"The green power transaction between Shanghai and Xizang not only deepens energy cooperation between the two regions, but also provides strong proof of the nation's unified power market in enabling cross-regional energy coordination," said Zhu Huangru, director of the trading department at the Shanghai Power Exchange Center.

Looking ahead, Shanghai will continue to deepen collaboration with Xizang and other regions rich in renewable resources, bringing more clean energy to the city.

So far, Shanghai has carried out green energy cooperation with 16 provinces and autonomous regions. Year-to-date, the city has completed more than 180 cross-regional green power transactions, involving 7.6 billion kilowatt-hours of electricity.