A view of the GCL stand at an exhibition in Shanghai. (Photo provided to China Daily)
GCL Energy Technology Co Ltd completed the first real asset (RWA) tokenization issuance in China’s PV industry with Ant Digital Technologies, securing 200 million yuan ($27.4 million) in cross-border financing, it was announced on Monday the company.
The initiative not only injects substantial new capital into GCL Energy Technology’s growth plans, but also establishes a new financing model for Chinese PV companies seeking to finance green projects internationally, the statement said.
RWA represents a transformative approach to asset management, where physical assets are digitized as tokens on the blockchain, improving market liquidity and accessibility. For this inaugural issuance, GCL Energy Technology has tokenized two strategically important solar power plants in Hunan and Hubei provinces, with a combined capacity of approximately 82 megawatts, to open this new financing frontier, it said .
As the main entity of GCL (Group) Holdings Co Ltd, China’s largest private power conglomerate, GCL Energy Technology has expanded its renewable energy footprint, with its total installed capacity reaching 5,976.36 megawatts at the end of September, with renewable sources constituting 57.81 percent of this capacity.
This RWA initiative is a cornerstone of GCL Energy Technology’s strategy to leverage data for asset valuation, involving approximately 3,000 residential PV systems. By integrating artificial intelligence, blockchain and IoT technologies, the project aggregates and stores operational and revenue data on the blockchain. This dual-chain, single-bridge architecture has garnered strong support from leading global investors, reinforcing RWA’s role as a critical green finance tool that underscores the company’s commitment to sustainability and transparency, the company said.
At the same event, strategic ties were further strengthened with a comprehensive partnership agreement signed with Ant Digital Technologies in Suzhou, Jiangsu province. The partnership will expand to include the joint construction, acquisition and securitization of new energy assets, covering distributed, commercial, industrial and residential photovoltaic plants.
In addition, the two parties will collaborate to develop applications of large AI models for various scenarios, including forecasting new energy production, optimizing energy management and intelligent operations, driving the industry towards improved intelligence and sustainability.
