KEC Vietnam Venture and REHash(TM) marketplace by T-RECs.ai announce partnership to advance innovative financing instrument for distributed renewable energy
KEC Vietnam Venture and REHash(TM) marketplace by T-RECs.ai are excited to announce our partnership, which aims to increase investment in the distributed renewable energy sector by supporting the expansion of the REC market.
T-RECs.ai offers a full suite of services to manage Renewable Energy Certificates (RECs), which are used to offset scope 2 emissions. REHash(TM) marketplace by T-RECs.ai is a blockchain-enabled platform which tracks and certifies transfer of ownership and retirement of RECs, using a proof of stake concept to prevent double-counting of ownership. Through REHash(TM) platform, clients can register their renewable energy assets, buy and sell RECs, as well as retire RECs to achieve their energy sustainability goals.
TRECs will verify and register renewable energy generated by Vietnam’ power plants as RECs on global registry APX TIGR. The certificates will then be traded on the T-RECs.ai‘s platform and sold to companies seeking to offset carbon emissions from operations powered by fossil fuels.
TRECs unlocks climate financing for renewable energy projects by issuing RECs from high-impact projects in energy poor countries, connecting these projects to corporate renewable energy buyers. RECs, an innovative financing instrument launched by TRECs and linked to the voluntary international renewable energy credit market.
One REC represents 1 megawatt hour (MWh) of renewable energy generated and reflects both the environmental and social benefits associated with clean energy generated in countries like Vietnam.
RECs allow corporate buyers interested in procuring renewable energy a unique opportunity to fund transformative renewable energy projects in underserved communities in line with the their sustainability and social responsibility goals. Project developers benefit as revenue from P-REC sales allows them to finance new renewable energy projects or implement community projects, such as the electrification of hospitals that enhances public health services or the installation of public streetlights that increases nighttime safety and security.
KEC Vietnam Venture and TRECs are collaborating to scale up the REC market through the implementation of an end-to-end technology and data platform. As part of this partnership, TRECs’s digital platform will streamline the application process for renewable energy project developers and ensure transparency, while enabling KEC to scale up origination through systematic project screening and data collection. The TRECs platform will allow KEC to track, verify, and share data on renewable energy generation, REC transactions, and project impacts.
Together, KEC Vietnam Venture and TRECs are looking forward to collaborating to scale up the REC market and mobilize more renewable energy investment in some of the world’s most vulnerable communities.
Source : Kec.com.vn
