In a move to further boost renewable energy development, China launches a pilot direct trading system for green power between corporate consumers and renewable energy generators. [Photo/IC]

In a move to further boost renewable energy development, China on Sept 7 introduced a pilot direct trading system for green power between corporate consumers and renewable energy generators.

Among the participants were 32 wind and solar power generators and 30 corporate consumers from East China's Zhejiang province. They made 50 transactions, totaling 300.75 million kilowatt-hours in power.

In the pilot, the average price per kilowatt-hour of green power for Zhejiang participants was 0.01 yuan ($0.15 cents) higher than regular electricity prices.

Most of Zhejiang's potential corporate consumers of green power are export-oriented companies and large companies that have been designated by authorities to cut carbon emissions.

The pilot will allow enterprises willing to shoulder more social responsibilities to directly trade with renewable energy generators. Earnings from the trading are expected to be invested into new energy development and will enhance the power system's capacity to absorb renewable energy, according to the National Development and Reform Commission.