Emirates News Agency – EWEC’s Q4 2022 Clean Energy Certificates Auction achieves biggest result since inception

ABU DHABI, 16th January, 2023 (WAM) — The Emirates Water and Electricity Company, EWEC, the leading company in the UAE for the integrated coordination of hydropower planning, procurement and supply, today announced its latest Clean Energy Certificate held in December 2022 (CEC ) auction was the most successful auction to date, selling over 9 million CECs to entities across different sectors and industries in Abu Dhabi.

Launched by Abu Dhabi’s Department of Energy (DoE), the CEC program is a strategic initiative to enable Abu Dhabi companies to adopt a reliable system to verify their clean energy consumption claims and support the UAE’s transition to a sustainable, decarbonized economy in line with UAE 2050 Net Zero Emissions Strategy Initiative.

Othman Al Ali, Chief Executive Officer of EWEC, said: “Following the one-year anniversary of the CEC scheme last September, our Q4 2022 auction results clearly demonstrate the scheme’s role in decarbonizing electricity consumption by key entities in Abu Dhabi. continued success. The innovative program is growing rapidly and continues to attract several companies from different industries to support the UAE in achieving its economic and sustainable development goals.”

“As the UAE capital hosts Abu Dhabi Sustainability Week, EWEC is proud to support and advance the country’s decarbonization goals in line with the UAE’s 2050 Net Zero Emissions Strategic Initiative. We are certain that the CEC program will continue to thrive during 2023 development, as more and more major organizations target this international certification scheme in support of their sustainable development goals,” he added.

EWEC is the main facilitator in the implementation of the Abu Dhabi CEC program, establishing the main market for this new instrument as the single registrant and auction operator. EWEC ensures that all licensed renewable and clean energy power plants are on the International Renewable Energy Certificate (I-REC) Registry, providing companies in Abu Dhabi with a way to obtain clean energy certificates and verify their sustainability credentials platform.

CEC is a tradable digital certificate issued by DoE in units of 1 MWh. The scheme is currently the only accredited vehicle in Abu Dhabi to demonstrate ownership of the environmental and economic benefits gained from using clean energy.