Ewec set for Q2 clean energy certificates auction in Abu Dhabi
ABU DHABI, May 9, 2023
Emirates Water and Electricity Company (Ewec), a leading company in the integrated coordination of planning, purchasing and supply of water and electricity across the UAE, today (May 9) announced plans for Q2 auction of clean energy certificates (CECs) in Abu Dhabi.
As the registrant and auction operator, Ewec is responsible for implementing the CECs scheme, which provides an effective tool for Abu Dhabi entities to demonstrate their commitment to a sustainable future, as well as showcase their tangible steps in reducing carbon emissions and supporting the UAE Net Zero by 2050 strategic initiative.
The purchase of CECs allows organisations to track and verify their clean energy consumption, enabling them to decarbonise their operations.
According to Ewec, the registration is now open and the auction will close on June 14.
Francois Brice, Fuel & Commercial Executive Director at Ewec, said: "Taking deliberate and tangible measures is becoming increasingly important for entities to realise their sustainability objectives and to support the UAE’s environmental and sustainability agenda as the country prepares to host COP28 at the end of this year."
"Through CECs auctions, we are providing companies with an innovative tool to decarbonise their energy consumption and play an active role in supporting the realisation of the UAE Net Zero by 2050 strategic initiative," explained Brice.
He called upon all Abu Dhabi organisations and entities to take part in the upcoming CECs auction to contribute to the UAE’s energy transition and decarbonisation objectives.
According to him, CECs verify that the consumed electricity originates from a clean energy source such as solar or nuclear.
"These are tradable digital certificates issued by the Department of Energy (DoE) in units of 1 MWh. CECs are currently the only accredited instruments in Abu Dhabi to prove ownership of the environmental and economic benefits of consuming clean energy."
"In addition, these certificates conform to International REC Standard that provides participating companies with a competitive advantage by certifying their sustainability efforts worldwide. Ewec is one of the key parties enabling the implementation of Abu Dhabi’s CEC’s scheme, acting as the single registrant and auction operator," he added.-TradeArabia News Service
