Emirates Water and Electricity Company (EWEC), a prominent entity in coordinating water and electricity supply across the UAE, has announced the opening of registration for its Q2 2024 auction for Clean Energy Certificates (CECs) in Abu Dhabi. Scheduled to conclude on 14 June 2024, the auction presents an opportunity for Abu Dhabi businesses and organizations to decarbonize their energy consumption and reduce Scope 2 emissions.
CECs enable participants to track and verify progress towards environmental goals, aligning with the increasing emphasis on Environmental, Social, and Governance (ESG) reporting. EWEC witnessed a record number of participants in its 2023 auctions, indicating growing market demand for CECs.
Othman Al Ali, CEO of EWEC, highlighted Abu Dhabi’s leadership in sustainability, stating, “The Clean Energy Certificates scheme exemplifies Abu Dhabi’s commitment to sustainability targets. Its impact has grown year-on-year, amplifying our collective contribution to accelerating the reduction of carbon emissions associated with business operations.”
Issued by the Abu Dhabi Department of Energy (DoE), CECs serve as accredited instruments certifying the ownership of environmental and economic benefits derived from consuming clean energy in Abu Dhabi. Each CEC, issued in units of 1 megawatt-hour (MWh), verifies that electricity consumed originates from renewable or clean energy sources.
EWEC plays a crucial role in implementing the CECs scheme, acting as the Single Registrant and Auction Operator. The scheme adheres to the internationally recognized standard developed by the International Renewable Energy Certificate Standard Foundation (I-REC Standard).
Major entities like the Abu Dhabi National Oil Company (ADNOC), Aldar, Mediclinic Middle East, and Emirates Global Aluminium (EGA) have purchased CECs and established strategic clean energy partnerships with EWEC, certifying their electricity consumption from clean energy sources such as solar or nuclear.
The upcoming auction presents an opportunity for organizations to participate in driving long-term positive change for the planet by reducing their carbon footprint through clean energy consumption.
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