Hainan has successfully completed its first-ever direct green power transaction, with a total traded volume of 5.625 million kWh.
Source: Hainan Daily
Hainan has successfully completed its first-ever direct green power transaction, with a total traded volume of 5.625 million kWh. This marks a breakthrough in electricity trading and a significant step forward in green energy market development, injecting new momentum into the province’s clean energy transition and the Hainan Free Trade Port.
Under the Southern Regional Green Power Market Trading Rules, the Hainan Power Trading Center is actively implementing policies to bring low-cost wind and solar power into the market, supporting the development of a clean energy island. Unlike traditional models, where all green power was guaranteed to be purchased by the grid at fixed rates, the new system allows surplus electricity to be traded in medium- to long-term contracts and the spot market.
According to the Hainan Power Trading Center, once green power enterprises register on the trading platform, they automatically gain market access as independent participants. While priority supply for residential and agricultural users remains ensured, surplus electricity can now be sold at market-based prices, with participants assuming deviation cost responsibilities. Registered green power enterprises listed for voluntary trading can conduct transactions, with the execution period beginning no earlier than the effective registration date.
In 2024, Hainan’s green power consumption surged, with "green power + green certificate" transactions totaling 1.488 billion kWh, a 16.45-fold increase from the previous year.