China has approved seven new methodologies to generate carbon offsets for its emissions trading scheme, including for ultra-high voltage (UHV) transmissions systems – a protocol proposed by a project developer affiliated to the State Grid.
The NDRC on Thursday published a letter listing the seven approved project types, taking the total to 186.
Zhixin Carbon, a subsidiary of the State Grid – China’s biggest grid company – won approval for its proposal to earn carbon credits when efficient UHV transmission systems are constructed in regions whose transmission capacity is within 50% of the proposed project’s.
It was not immediately clear if projects that have already been planned would be approved under China’s carbon offset mechanism.
UHV systems are expected to play a central role in China’s efforts to boost energy security and cut pollution by replacing older, less efficient transmission systems.
The State Grid said in 2013 that it planned to invest $100 billion in 20 UHV lines by 2017, and by last year there were 14 systems in operation or under construction across the country.
RENEWABLE ENERGY STORAGE
The NDRC also approved a methodology for energy storage in renewable energy power plants, developed by Guangdong-based GDR Carbon, an active trading company in China’s emissions market.
Among the other approvals were projects related to bamboo forest management, concrete, timber and LNG production from recovered coke oven gases.
The new approvals are likely to boost offset supply to the national emissions trading market, which will impose CO2 caps on over 10,000 companies when it opens next year.
An annual report on the Chinese carbon market published earlier this week said that the 339 projects already approved under the domestic offset scheme would be able to generate 103 milion carbon credits in the years 2013-2020.
By Stian Reklev – firstname.lastname@example.org