Oman boosts renewable energy with sale of IRECs
Published: 07:09 AM,Sep 16,2024 | EDITED : 04:09 PM,Sep 16,2024
These certificates represent a megawatt-hour of electricity generated from renewable sources and are instrumental in Market-Based Scope 2 Greenhouse Gas (GHG) accounting.
MUSCAT: Oman-based renewable energy firm Amin Renewable Energy Company SAOC has announced the availability of International Renewable Energy Certificates (IREC (E) for sale. This marks a significant milestone for the company and the region, as it continues to produce over 300,000 IREC (E) certificates annually since its Commercial Operation Date on May 22, 2020.
The company's initiative contributes substantially to the renewable energy sector, providing businesses and organizations the opportunity to purchase IREC (E) certificates to meet their sustainability goals. These certificates represent a megawatt-hour of electricity generated from renewable sources and are instrumental in Market-Based Scope 2 Greenhouse Gas (GHG) accounting, rather than offsetting carbon footprints — a function specific to carbon credits.
This announcement follows a significant development in September 2022 when Amin’s 105-MW solar PV plant became the first solar energy project in Oman registered with a global renewable energy certificate. This registration enables the linkage of electricity ownership rights from the production site to the consumption site, facilitating the trading of these certificates in alignment with decarbonisation efforts.
The production and sale of IREC(E) certificates by Amin Renewable Energy align with Oman Vision 2040, which emphasises industrial decarbonisation and the adoption of renewable energy.
The registration of the energy units, which exceeded 206 MWh, was conducted in collaboration with Three Pillars Consulting, the accredited issuer of renewable energy certificates in Oman. This collaboration underscores the commitment of Oman’s private sector to advancing the country’s renewable energy landscape.
The company's initiative contributes substantially to the renewable energy sector, providing businesses and organizations the opportunity to purchase IREC (E) certificates to meet their sustainability goals. These certificates represent a megawatt-hour of electricity generated from renewable sources and are instrumental in Market-Based Scope 2 Greenhouse Gas (GHG) accounting, rather than offsetting carbon footprints — a function specific to carbon credits.
This announcement follows a significant development in September 2022 when Amin’s 105-MW solar PV plant became the first solar energy project in Oman registered with a global renewable energy certificate. This registration enables the linkage of electricity ownership rights from the production site to the consumption site, facilitating the trading of these certificates in alignment with decarbonisation efforts.
The production and sale of IREC(E) certificates by Amin Renewable Energy align with Oman Vision 2040, which emphasises industrial decarbonisation and the adoption of renewable energy.
The registration of the energy units, which exceeded 206 MWh, was conducted in collaboration with Three Pillars Consulting, the accredited issuer of renewable energy certificates in Oman. This collaboration underscores the commitment of Oman’s private sector to advancing the country’s renewable energy landscape.