En+ Group announces it has signed Russia’s largest ever supply deal for international renewable energy certificates (I-RECs). The Group will deliver 1 million certificates in multiple shipments to BitRiver, the operator of the largest data centre offering colocation services for bitcoin mining in Russia, during 2021-2022.
En+ Group has been issuing I-RECs since December 2020. I-RECs are corresponding to the electric energy produced by En+ Group companies such as JSC EuroSibEnergo (Krasnoyarsk HPP) and LLC Abakan SPP (Abakansk Solar Plant).
Vyacheslav Solomin, Chief Operating Officer of En+ Group, said:
"This is not the first time that En+ Group and BitRiver have partnered. In 2020, we launched Bit+, a joint venture for mining cryptocurrencies with a low carbon footprint. The I-RECs supply agreement represents not only a new stage of our cooperation, but also a significant step towards achieving the global Sustainable Development Goals. We believe that the issuance and trading of such certificates will stimulate the development of green technologies, as well as make the entire power industry as a whole more transparent."
Igor Runets, Founder and CEO of BitRiver, said:
"With the acquisition of I-RECs we can now confirm that our data centres’ operation is carbon-free and sustainable. This is important for both our customers and for us. If Bitcoin has a negative impact on the environment it will not have the exciting future experts predict. Our compliance with the principles of sustainability and the use of "green" energy is not just to follow a global trend, it reflects the BitRiver brand and our data centres of the future."
The 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’ (indirect production emissions), and to support their internal corporate social responsibility policies.
Reducing greenhouse gas emissions is a key strategic goal of the En+ Group. The Group has previously announced its ambition to achieve net zero carbon emissions by 2050 and to reduce greenhouse gas ("GHG") emissions by at least 35% by 2030 (Scope 1 and 2, as benchmarked against the Group’s 2018 GHG emissions). To achieve this, the Company is modernizing its facilities, under the “New Energy” programme, and introducing the best available technologies as well as developing new ones such as Inert Anode. In 2015, En+ Group Metals segment joined the Aluminium Stewardship Initiative, and in 2020, published the low-carbon aluminium concept – “Green Aluminium Vision”.