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NREL to collaborate with China's PV Investment and Finance Alliance

Goal of partnership is to open wide-scale and diverse sources of investment for solar photovoltaic asset development in China.

Under the terms of the collaboration, NREL will advise China PV Finance and Investment Alliance in areas such as documentation standardization, data availability and consistency in asset deployment and operations and maintenance using the SAPC working group as a model. SAPC is dedicated to opening low-cost capital market investment via securitization of project cash flows and other innovative financial vehicles.
"The collaboration between the United States and China is very much a two-way street," said NREL's Michael Mendelsohn, who leads the SAPC initiative. "Our counterparts in China will be able to provide unique insights on asset development and grid integration. They are also very motivated to open investment through pooled financial vehicles and reduced transaction costs-NREL and the SAPC working group, which shares similar goals-can offer expertise in this area."
China PV Investment and Finance Alliance -- launched in Beijing on April 3 -- is organized by the Chinese Renewable Energy Industries Association (CREIA), with support from The Energy Foundation, China's National Energy Administration and the China Banking Regulatory Commission. CPVFA is composed of China's leading government and private sector entities, including State Grid's Electric Power Research Institute, China General Certification Center and many of the country's principal developers, engineering firms, manufacturers and other solar, finance and power sector stakeholders.
"With the background that China is strongly pushing forward energy production and consumption reforms and deepening power system and financial market reforms, the launch of the CPVFA is of significant meaning," said Megan Tang, vice secretary-general of CREIA and the secretary-general of CPVFA. "The collaboration between China and the US, and the cooperation between PV and finance industries will not only greatly accelerate the adoption and use of PV as an important means to reduce CO2 emissions, but also broaden the space for Chinese financial innovation."

1. The China PV Investment and Finance Alliance will focus on formulating and improving standard evaluation and certification systems for the Chinese PV industry; expanding financing channels and financial products innovation; and establishing a dialogue and matchmaking mechanism between finance institutions and the PV industry to build a professional and efficient platform for investment and financing.

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Energy infrastructure  •  Photovoltaics (PV)  •  Policy, investment and markets  •  Solar electricity