State Power Investment Corporation, the Chinese power group recently created through the merger of China Power Investment Corporation and State Nuclear Power Technology Corporation, has signed a partnership with the municipal government of Jiuquan in the Gansu province of China to develop carbon credits for the city's solar and wind power plants. The company will be able to buy and sell carbon credits generated by local renewable projects. Jiuquan has some of the largest wind and solar power plants in China and plans to build 5 GW of wind capacity and 1.5 GW of solar capacity. The Jiuquan city will offer the credits generated by 23 solar power projects in a first batch.
So far, China has already implemented seven local carbon exchanges and plans to put a national scheme into operation in late 2016 or early 2017, that could cover more than 10,000 companies (mainly large state-owned power, oil and steel companies).
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