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TotalEnergies said on Thursday it will register, verify and trade renewable energy certificates (RECs) generated by its solar assets on a trading platform owned by Singapore-based exchange T-RECs.ai.
The move is expected to generate additional revenue for Renewables Distributed Generation for Asia (TRDG), wholly owned by TotalEnergies to develop solar assets across Asia, the company said in a statement.
T-RECs.ai will verify and register renewable energy generated by TotalEnergies’ solar power plants as RECs on global registry APX TIGR. The certificates will then be traded on the T-RECs.ai’s platform and sold to companies seeking to offset carbon emissions from operations powered by fossil fuels.
RECs are market-based instruments substantiating that electricity has been generated from renewable energy sources.