Emirates Water and Electricity Company (Ewec) has announced plans to conduct the first quarter auction for clean energy certificates (CECs) in Abu Dhabi. The registrations are now open with the auction closing on March 14.
The CECs scheme is a strategic initiative introduced by the Abu Dhabi Department of Energy (DoE) that enables Abu Dhabi based companies to validate their clean energy consumption claims and support the UAE’s transition towards a sustainable, decarbonized economy.
A leading company in the integrated co-ordination of planning, purchasing and supply of water and electricity across the UAE, Ewec plays a key role in implementing the CECs scheme by being the single registrant and auction operator.
These CECs are tradable digital certificates issued by the DoE in units of 1 MWh. They conform to International REC Standard (I-REC) measures and are currently the only accredited instruments in Abu Dhabi to prove ownership of the environmental and economic benefits of consuming clean energy, it stated.
They offer participating companies a competitive advantage by holding internationally recognized certificates that certify their green credentials.
Commercial Executive Director Francois Brice said: "Following the record results achieved in our Q4 2022 auction, where we sold over 9 million CECs to numerous Abu Dhabi-based entities, Ewec is proud to be at the forefront of supporting Abu Dhabi and the UAE achieve its economic and sustainability goals as the nation prepares to host COP28."
"The market for CECs is rapidly growing and gaining further momentum as organizations take positive, tangible action to decarbonize their energy consumption and contribute to the UAE Net Zero by 2050 strategic initiative," he added.
