GoNetZero, Sembcorp’s carbon management solutions corporate venture, today launched its blockchain-powered digital platform for trading Brazil International Renewable Energy Certificates (I-REC) at the inaugural I-REC Day Brazil in São Paulo, Brazil. The launch is the result of a collaboration with Instituto Totum, the authorised local issuer of I-REC in Brazil, to integrate the digital platforms of Instituto Totum and GoNetZero.
The collaboration puts GoNetZero in a strong position to support the fast-growing renewable energy certificate market in Brazil. Brazil is the world’s second largest I-REC market where the volume of I-REC issued in 2022 doubled from the year before to 22 million, representing green energy equivalent to powering 4.0 million typical households in Singapore for a year.
Renewable energy generators in Brazil are now able to seamlessly list their I-REC for sale directly on GoNetZero’s platform upon the issuance of the I-REC by Instituto Totum. The streamlined process offers generators faster speed to market and convenient access to GoNetZero’s global network of buyers. For corporates, GoNetZero provides a unique end-to-end journey for managing the entire life cycle of renewable energy certificates online – from issuance, trading and management to retirement.
CGN Brazil Energy, a subsidiary of China General Nuclear with 1.3GW of wind energy capacity in Brazil, has successfully onboarded its assets on GoNetZero.
Ng Lay San, Co-founder and Head of GoNetZero said “GoNetZero supports corporates to achieve their decarbonisation goals. We are pleased to deepen our reach in Brazil and are thankful to work with Instituto Totum, a like-minded innovative partner, to support the growing renewable energy market in Brazil.”
Fernando Giachini Lopes, Founder and CEO of Instituto Totum said “The role of Instituto Totum is to facilitate access to the I-REC market in Brazil and this joint work with GoNetZero has achieved this objective: greater liquidity for I-REC Registrants and Participants and more access for buyers of any scale.”
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