GCL Energy, Ant Digital raise CNY 200 million by tokenizing solar assets in China
GCL Energy Technology, in partnership with Ant Digital Technologies, has launched China’s first blockchain-based real world asset (RWA) issuance in the PV sector, raising CNY 200 million in cross-border financing.
The companies said the initiative, which was announced on Dec. 23, aims to set a new standard for green financing by combining blockchain technology with renewable energy assets.
The project has tokenized two solar power plants in China's Hunan and Hubei provinces, with a combined capacity of 82 MW – marking the first instance of blockchain-based asset tokenization in China's solar industry.
The financing, secured through global investors, provides GCL Energy with capital to drive its growth while establishing a novel model for other photovoltaic companies seeking to finance sustainable energy projects.
GCL Energy Technology, a subsidiary of GCL (Group) Holdings, operated 5.9 GW of renewable energy capacity as of September 2024, representing 57.81% of its total energy portfolio. It said residential PV installations under its GCL SUN brand now exceed 1,100 MW across more than 36,500 households.
The RWA issuance includes advanced digital tools, leveraging artificial intelligence, blockchain, and Internet of Things technologies to digitize operational and revenue data for approximately 3,000 residential PV systems. Using a dual-chain and one-bridge blockchain architecture, GCL said it ensures transparency and data security for investors.
GCL and Ant Digital have also expanded their strategic alliance with an agreement to broaden efforts in asset acquisition, construction, and securitization of new energy projects. This includes commercial, industrial, and residential PV installations. The companies said they will develop AI-driven solutions for renewable energy management, including generation forecasting and intelligent operations.
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