Guangzhou, China — AsiaREC has announced the successful completion of China’s first hourly-matched Power Purchase Agreement (PPA) pilot, marking a major step toward 24/7 carbon-free electricity and global alignment in renewable energy tracking.
The pilot was conducted in December 2024 in Guangzhou City with the following key stakeholders:
Power Generator: Guangdong Energy Group Co., Ltd.
Energy Consumer: Guangzhou Hualing Refrigeration Equipment Co., Ltd. (Midea Group)
Grid Support: Guangzhou Power Supply Bureau, Guangdong Power Grid, under China Southern Power Grid
Facilitator: AsiaREC, in collaboration with AEX Holdings (Hong Kong)
What Makes This Pilot Special?
Unlike conventional renewable energy procurement, the project layered hourly timestamps onto China’s existing Green Electricity Certificates (GECs). This allowed Midea’s Guangzhou Hualing factory to match 20.5% of its total 4 GWh electricity consumption with verified, time-stamped solar generation during December 2024.
The pilot adhered to the EnergyTag Standard, the only open-source framework for real-time energy attribution, now recognized by corporations and policymakers worldwide.
Why It Matters: From China to Global Trade
This development is not just a technical milestone — it is a strategic shift in how China positions its renewable energy system internationally. With the EU Carbon Border Adjustment Mechanism (CBAM) requiring exporters to report carbon emissions (including indirect Scope 2 emissions), Granular Certificates (GCs) are emerging as the most credible and auditable solution.
By aligning Chinese GECs with international best practices, this pilot demonstrates a pathway for exporters to comply with EU green trade requirements and strengthen their competitiveness in global markets.
Voices from the Pilot
“Through cooperation with AsiaREC, we have taken the lead in exploring alignment between China’s green electricity tracking standards and international markets, driving Chinese green certificates to go global,” — Guangzhou Power Supply Bureau representative
“Together, we’re laying the foundation for a scalable system that enables Chinese industry to meet global expectations for energy transparency and carbon accountability,” — Sam Greenwood, Interim CEO, AsiaREC
“This pilot highlights the growing readiness of China’s clean energy ecosystem to support time-based tracking. It demonstrates a practical path toward credible, high-resolution electricity accounting,” — Shailesh Telang, Head of APAC, EnergyTag
The Road Ahead: Toward an APAC Granular Certificate Alliance
AsiaREC is now working to establish an APAC Granular Certificate Alliance, a collaborative initiative that will:
Harmonize regional certificate infrastructure
Build trust in renewable energy markets
Support corporations and governments in their transition to 24/7 carbon-free energy
Enable future regulated trading markets for green attributes in the Greater Bay Area
About AsiaREC
AsiaREC is a Hong Kong-based non-profit dedicated to developing transparent infrastructure for renewable energy and carbon tracking across Asia. By aligning with global standards like EnergyTag, it supports scalable decarbonization and compliance with mechanisms such as CBAM.