Following the deliberation on the request for a change in the I-REC for electricity issuance criteria in China, the I-REC Standard Foundation Board conducted a consultation between the 30th of March 2021 and 3rd of May 2021, to better understand the needs of the market in regard to changing the restrictions associated with Chinese certificate issuances, particularly those related to eliminating restrictions on non-SOEs.
The I-REC Standard was pleased with all the responses from experts in the Chinese market. Almost all responses came from Chinese market players and the consultation was filled in Chinese and English.
The results of the consultation and information from the governmental agency, have prompted the following changes to be agreed upon:
- Removal of the restriction on issuance in China, allowing SOE and non-SOE to participate on an equal basis. This will be effective immediately (June 15, 2021)
- Removal of the ability to issue I-RECs to generation facilities receiving FIT as of January 1st, 2023. This applies to generation facilities that are already registered in the I-REC registry to provide them with a reasonable transition period. For generation facilities that are receiving a FiT and are not yet registered, the new restriction applies effective immediately.
The results of the consultation can be found, in detail, in this report.