TotalEnergies Renewables Distributed Generation for Asia and T-RECs.ai Announce Collaboration in Renewable Energy Certificates (RECs)
● TotalEnergies identifies RECs as an important contributor to its growth strategy in Asia
● The collaboration further affirms T-RECs.ai’s strong leadership position in building a RECs trading exchange, and comes amid a firm increase in demand for renewable energy.
SINGAPORE (Dec 9, 2021) – TotalEnergies Renewables Distributed Generation for Asia (TRDG), 100% owned by TotalEnergies for developing solar assets across Asia, has announced their collaboration with T-RECs.ai, Asia’s leading Renewable Energy Certificates (RECs) trading exchange. Under this collaboration, TSDG will utilise T-RECs.ai’s proprietary RECs trading platform – REHash – to register, verify and trade RECs generated by its solar assets.
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 TotalEnergies 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.
T-RECs.ai is a Singapore company on a mission to accelerate and facilitate Asia’s transition towards renewable energy. We provide a one-stop ecosystem for RE100-compliant RECs, supporting our clients throughout the entire RECs lifecycle – Asset Registration, Production Verification, and RECs Retirement. T-RECs.ai is one of only three Qualified Reporting Entities (QREs) globally that verifies power production for the TIGR registry (TIGR is one of only two global REC registries). Our platform – REHash – is powered by blockchain and AI, allowing entities to validate their commitments transparently on a blockchain enabled public ledger. https://trecs.ai
About TotalEnergies Renewables Distributed Generation for Asia
TotalEnergies Renewables Distributed Generation for Asia is a wholly-owned subsidiary of TotalEnergies dedicated to the development of distributed solar energy solutions, including solar-powered rooftops, carport and ground-mounted solar power plants, with a portfolio of over 600 MW of projects in development and operation worldwide. Active in Asia since 2018, TotalEnergies Renewables Distributed Generation is one of the largest and fastest players in renewable energy distributed generation in the region for commercial and industrial customers, with a portfolio of over 100 MW of projects in development and operation. https://solar.totalenergies.asia
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
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