Sunday 16 June 2024
 
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Othman Al Ali

EWEC opens registration for Q2 clean energy certificates auction

ABU DHABI, 23 days ago

EWEC (Emirates Water and Electricity Company), a leading company in the integrated coordination of planning, purchasing, and supply of water and electricity across the UAE, announced that registration is open for its Q2 2024 auction for Clean Energy Certificates (CECs) in Abu Dhabi.

The auction is scheduled to close on June 14, 2024.

CECs allow Abu Dhabi businesses and organisations to decarbonise their energy consumption and lower their Scope 2 emissions, and track and verify progress towards environmental goals.

With the ongoing prioritisation of Environmental, Social and Governance (ESG) reporting, market demand for CECs continues to increase. EWEC marked a record number of participants in its 2023 auctions.

Othman Al Ali, Chief Executive Officer of EWEC, said: “The Clean Energy Certificates scheme is an example of Abu Dhabi’s leadership in achieving its sustainability targets.

“Its impact has grown year-on-year, amplifying our collective contribution to accelerating the reduction of carbon emissions associated with business operations and facilitating the realisation of the UAE Net Zero by 2050 Strategic Initiative.

“By collaborating with leading entities, EWEC is enabling organisations to lower their Scope 2 emissions in a transparent and accountable manner. We strongly encourage organisations and businesses to participate in our upcoming auction to drive long-term positive change for the planet.”

Issued by the Abu Dhabi Department of Energy (DoE), CECs are the only accredited instruments that prove the ownership of the environmental and economic benefits of consuming clean energy in Abu Dhabi.

Issued in units of 1 megawatt-hour (MWh), each CEC certifies that the electricity consumed by the redeeming organisation originates from a renewable or clean energy source. EWEC is one of the key parties enabling the implementation of the CECs scheme, acting as the Single Registrant and Auction Operator. 

The CEC scheme conforms to the internationally recognised standard developed by the International Renewable Energy Certificate Standard Foundation (I-REC Standard).

Major entities, including the Abu Dhabi National Oil Company (ADNOC), Aldar, Mediclinic Middle East, and Emirates Global Aluminium (EGA), have purchased CECs and signed strategic clean energy partnerships with EWEC to certify that their electricity consumption is generated from clean energy sources such as solar or nuclear. – TradeArabia News Service

 




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