En+ Group has issued over one million international renewable energy certificates (I-RECs).
En+ Group (LSE: ENPL; MOEX: ENPG), a leading vertically-integrated producer of low-carbon aluminium and independent hydropower, has issued over one million international renewable energy certificates (I-RECs). The certificates correspond to the electric energy produced by En+ Group companies such as JSC EuroSibEnergo (Krasnoyarsk HPP) and LLC Abakan SPP (Abakansk Solar Plant).
The I-REC Standard ensures that issued certificates adhere to major international sustainability and carbon accountability standards including the GHGP, CDP and RE100. Energy consumers can use I-RECs to help them meet their carbon targets within ‘scope 2’, and to support their internal corporate social responsibility policies. Existing alternatives to I-RECs are Guarantees of Origin (GOs) in Europe and Renewable Energy Certificates (RECs) in the USA.
En+ Group has been issuing I-RECs since December 2020, and since this time has become a certified Participant with I-REC Services B.V. This agreement allows En+ Group to not only sell I-RECs, but also to redeem them on the client’s or its own behalf, providing a full-cycle I-REC service.
The Executive Director of En+ Group Vyacheslav Solomin said:
"The demand for "green" certificates is steadily growing. Companies that truly wish to apply ESG principles and want to use 100% green energy throughout their supply chains are showing the greatest interest in I-RECs. We have now surpassed the milestone of one million certificates issued, but the contracted volume is already much higher."
In June 2021, En+ Group announced Russia’s largest ever supply deal for I-RECs. In addition, in September 2021, together with Sberbank, the company issued and delivered certificates that fully covered the entire volume of electricity that was consumed within the framework of the Far Eastern Energy Forum Sakhalin Oil and Gas 2021.