I-REC builds on best practice from the North American REC market and Europe’s Guarantees of Origin system, and has strong stakeholder support. I-REC is recognised by the Greenhouse Gas Protocol as a tool to document electricity consumption from renewable energy sources.
“International companies operating outside of Europe and North America increasingly want to document that the electricity they use comes from renewable energy sources,” says Tom Lindberg, CEO at Ecohz. “I-REC solves a big problem for companies committed to using renewable electricity in locations all around the world. Thanks to I-REC, companies in Turkey now have an internationally valid tracking system to document their green power consumption. Something which hasn’t been available until now.”
The first I-RECs issued in Turkey are from Bayramhacili, a hydropower plant commissioned in 2011. The plant has an installed capacity of 48 MW and its annual production is 166 GWh. GTE Carbon is the developer of the project and handles the production and sale of the I-RECs on behalf of the project owner.
“Turkey has a growing industrial energy demand in line with the increased economic and population growth,” says Kemal Demirkol, Managing Director in GTE Carbon. “Demand for renewable electricity is increasing in Turkey but there has not been a reliable certification or monitoring scheme in place. By issuing I-RECs in Turkey we can now meet the companies’ demand to report and disclose their greenhouse gas emissions according to international standards such as the Greenhouse Gas Protocol and CDP programs.”
Ecohz has been a driving force in the I-REC development, and in 2015 it also became the first to provide renewable power (I-REC) from major Asian markets. Ecohz is currently developing a global portfolio of I-REC power plants, with the ambition of providing multinational companies a wide selection of options covering most regions in the world.
The International REC Standard (I-REC) is a new green power standard that documents renewable energy consumption.
- I-REC enables companies, for the first time, to purchase electricity from renewable energy sources for operations outside Europe and North America.
- I-REC is an independent and transparent standard, recognized by key international stakeholders
- I-REC is available in select markets in Asia, Latin America and Africa.