The Abu Dhabi Department of Energy (DoE) is now an exclusive issuer of renewable energy certificates (RECs) to bring a clean energy certificate system into the emirate. DoE thus confirmed as a soul issuer by signing the local issuer agreement with the International REC Standard Foundation (I-REC Standard).
Commenting on the newly signed Issuer agreement, H.E. Eng. Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy, said: “With increasing recognition of the impacts of climate change and growing demand from businesses and individuals in Abu Dhabi for sustainability products, the DoE’s agreement with I-REC Standard is timely and important. It enables us to set up a clean energy certification system in the emirate while supporting the development of consumer-driven growth in Abu Dhabi’s renewable and carbon-free electricity market.”
The I-REC Standard Foundation is a non-profit organization that offers a thorough attribute tracking standard for verifying and procuring renewable energy attributes, including power generation sources and related environmental indicators. According to this standard, the appointed Issuer of RECs must facilitate local implementation and accrediting principles within a defined and controlled area of electricity generation and consumption. This means that energy providers and end-users in Abu Dhabi will be able to purchase I-REC Standard adherent RECs to certify their ownership of a certain amount of electricity generated from a specified clean energy source (e.g., solar, nuclear, etc.) over a specified time period, and use the certificates to account for their CO2 emissions from electricity.
For the first time in the world, the I-REC Standard permitted the issuing of RECs for power generated by nuclear energy, among other technologies, as part of the agreement with the Department of Energy. This option is extremely valuable to Abu Dhabi, especially now that the Barakah peaceful nuclear power project has begun operations and is expected to generate up to 25% of the UAE’s electricity demand once completely operational.
Jared Braslawsky, Executive Director of the I-REC Standard Foundation, explained that “as the Accredited Issuer for the Emirate of Abu Dhabi, DoE is in full compliance with the requirements of the I-REC Standard Foundation, the International Attribute Tracking Standard, and the Electricity Code. We look forward to years of cooperation and support in growing a market for trading in clean and renewable energy certificates in the region. All the parties are looking to the future with the possibility of certification of other energy and non-energy attributes including CCUS and Hydrogen and expect other relevant developments around these upcoming focuses.”
The Department of Energy has established a Regulatory Policy to determine local implementation regulations and outline the characteristics and principles of a clean energy certification scheme in Abu Dhabi, in accordance with the I-REC Standard standards. The new scheme’s details will be released soon.
