Ewec's clean energy certificates auction 'a major success'

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Ewec's clean energy certificates auction 'a major success'

Jan 17, 2023 10:51 AM

Emirates Water and Electricity Company (Ewec) has announced that its clean energy certificates (CECs) auction that took place last month was the most successful auction to date selling over 9 million CECs...

A leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE, Ewec is the principal enabler for implementing Abu Dhabi’s CECs scheme, acting as the single registrant and auction operator to establish a primary market for this new instrument.

Introduced by the Abu Dhabi Department of Energy (DoE), the CEC scheme is a strategic initiative that provides Abu Dhabi companies the ability to adopt a reliable system that verifies their clean energy consumption claims, and to support the UAE’s transition towards a sustainable, decarbonised economy in line with the UAE Net Zero by 2050 strategic initiative.

CECs are tradable digital certificates issued by the DoE in units of 1 MWh. The scheme is currently the only accredited instrument in Abu Dhabi to prove ownership of the environmental and economic benefits achieved by consuming clean energy.

CEO Othman Al Ali said: "Following the CECs scheme’s first-year anniversary last September, our Q4 2022 auction results are clear proof of the scheme’s continued success in enabling major Abu Dhabi based entities to decarbonise their electricity consumption."

"The innovative scheme is rapidly evolving and continues to attract multiple companies from diverse sectors to support the UAE in achieving its economic and sustainability goals. As the UAE capital hosts Abu Dhabi Sustainability Week, EWEC is proud to be supporting and enabling the advancement of the country’s decarbonisation objectives in line with the UAE Net Zero by 2050 strategic initiative. We are sure that over the course of 2023 the CECs scheme will continue to thrive as more key organisations target this internationally certified programme that supports their sustainability goals.”

EWEC ensures that all licensed renewable and clean energy power generation plants are in the International Renewable Energy Certificate (I-REC) registry, offering Abu Dhabi based companies a platform to acquire clean energy certificates and verify their sustainability credentials.

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