Auction included world first sale of Clean Energy Certificates for nuclear energy
Major corporations across the energy, industrial, healthcare, commercial and retail sectors showed growing interest
EWEC (Emirates Water and Electricity Company),a leading company in the integrated coordination of planning, purchasing and supplying of water and electricity across the UAE, today announced that it has successfully completed the first ever auction of Clean Energy Certificates (CECs) in Abu Dhabi, following the launch of the regulatory policy for CECs by the Abu Dhabi Department of Energy (DoE).
The CECs scheme, which for the first time ever worldwide included CECs for power generated from nuclear energy being available for purchase, was launched by the DoE in August to empower Abu Dhabi companies to achieve sustainability goals, providing a mechanism to validate claims of producing and consuming renewable or clean electricity, thereby reducing their carbon footprint. Importantly, CECs will empower Abu Dhabi based entities to compete globally with counterparts using internationally recognised certificates that confirm their green credentials. EWEC is one of the key parties enabling the implementation of Abu Dhabi’s CECs scheme, acting as Single Registrant and auction operator to establish a primary market for this new instrument.
Since the launch of DoE’s regulatory policy for CECs, EWEC began engaging with major Abu Dhabi based corporations across the energy, industrial, healthcare, commercial and retail sectors to begin the registration process for participation in the first ever CECs auction.
Othman Al Ali, Chief Executive Officer of EWEC, said: “The Clean Energy Certificates scheme is a progressive initiative, and a further example of Abu Dhabi’s ambitious sustainability goals. The engagement of Abu Dhabi businesses in the first auction, from across several sectors, shows a high level of interest in this new scheme and appetite for major companies to join us in taking tangible actions to reduce CO2 emissions. We look forward to developing the marketplace further and supporting businesses in their sustainability commitments, with the second auction taking place in December 2021.
The CECs scheme was designed by the DoE based on the internationally recognised attribute tracking system for renewable energy certificates developed by the International Renewable Energy Certificate Standard Foundation (I-REC Standard). CECs help to reduce the carbon footprint associated with power generation while providing a reliable accreditation system that caters to the growing appetite among corporate businesses and households to contribute to the fight against climate change and enables the decarbonisation of the energy sector.
CECs are issued by the DoE in units of 1 MW/h upon receiving a request from the Single Registrant and are currently the only way in Abu Dhabi to prove ownership of the environmental and economic benefits achieved by using renewable and clean energy. Anyone can buy certificates to guarantee that the electricity they consume does not emit CO2.
Francois Brice, Director of Fuel & Commercial at EWEC said: "As we begin developing the Clean Energy Certificates scheme in Abu Dhabi, we encourage environmentally conscious corporations, whether large or small, to contact us to participate in this exciting new opportunity. Clean Energy Certificates will play an important strategic role in helping corporations to meet their sustainability goals."
The next Clean Energy Certificate auction operated by EWEC will be taking place in December 2021. If you would like to track and verify your renewable and clean energy consumption, please visit www.ewec.ae/en/CleanEnergyCertificates or contact EWEC’s Clean Energy Certificates team at: CleanEnergyCertificates@ewec.ae
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About Emirates Water and Electricity Company
Emirates Water and Electricity Company (EWEC) drives the planning, forecasting, purchase and supply of water and electricity in Abu Dhabi and beyond. EWEC performs its role as the sole procurer of water and electricity from independent producers, ensuring the short- and long-term balancing of bulk supply and demand for distribution companies. EWEC is part of ADQ, one of the region’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy. For more information please visit: www.ewec.ae.
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