Total Energies to trade renewable energy certificates in Asia

12 Dec 2021

This announcement comes as the demand for renewable energy continues to rise amid global pressures for real climate action. RECs are tradeable instruments representing the environmental attributes of power generated from renewable sources. Under the RECs regime, renewable power generators are rewarded with an additional revenue stream if they onboard and register their solar or wind assets under an internationally-recognised registry like APX TIGR. Global brand owners and consumers then purchase these RECs that match their power consumption patterns – an elegant, straight-forward and tangible way to verifiably demonstrate their sustainability efforts. “TotalEnergies Renewables Distributed Generation for Asia has more than doubled its growth annually since 2018. With customers across nine markets, we are one of the largest players in the region and continue to be the preferred partner for industry-leading companies. We believe this collaboration will further strengthen our foothold in this region and demonstrate our commitment to green power,” said Mr Gavin Adda, CEO of Total Energies Renewables Distributed Generation for Asia. “T-RECs.ai is proud to provide a seamless, one-stop solution that will cater to TRDG’s needs throughout the entire RECs lifecycle. We offer the industry’s fastest registration process for renewable energy assets on the TIGR registry, verification of power production, RECs issuance on a blockchain, and a vibrant marketplace to sell the RECs created directly to corporate buyers like RE100 members,” said Mr Kang Jen Wee, founder and CEO of T-RECs.ai. RE100 is the global corporate renewable energy initiative bringing together more than 300 of the world’s most influential businesses that are committed to 100% renewable electricity – members include Apple, Danone, Google and Nike. “This partnership further solidifies T-RECs.ai’s position as Asia’s premier voluntary RECs marketplace. Fueled by Asia’s insatiable demand for renewable energy, the RECs market is poised to grow massively as they have a clear and critical role to play in tracking ‘who-owns-what’. We believe T-RECs.ai is well positioned to be a leading and trusted provider of liquidity and price transparency for green finance in Asia,” added Mr Kang.