EWEC Opens Registration for Clean Energy Certificates Auction in Abu Dhabi
Abu Dhabi, UAE – The Emirates Water and Electricity Company (EWEC) has announced that registration is now open for its Q3 2024 auction for Clean Energy Certificates (CECs) in Abu Dhabi. The auction will close on September 13, 2024.
CECs help Abu Dhabi-based entities reduce their energy consumption’s carbon footprint and Scope 2 emissions. These certificates allow organizations to track and verify their progress towards environmental goals by certifying that their electricity comes from renewable or clean energy sources.
EWEC has introduced wind clean energy certificates, which use power generated from the UAE’s first utility-scale wind program. This program was secured after EWEC signed a power purchase agreement in Q4 2023 with Abu Dhabi Future Energy Company PJSC – Masdar. The introduction of wind CECs allows EWEC to supply organizations with electricity from multiple renewable and clean energy sources, accelerating the UAE’s energy transition and decarbonizing key economic sectors such as energy, industry, real estate, healthcare, sports, and events.
Othman Al Ali, CEO of EWEC, stated, “EWEC is at the forefront of accelerating Abu Dhabi’s clean energy transition through, in part, our quarterly Clean Energy Certificate auctions. The broad participation in these auctions highlights the growing efforts of entities to reduce their carbon emissions and combat climate change in alignment with the UAE Net Zero by 2050 Strategic Initiative. By incorporating wind energy CECs into our auctions, we have expanded the range of renewable and clean energy CECs available, empowering organizations to meet their sustainability targets using electricity from a variety of sources.”
Issued by the Abu Dhabi Department of Energy in units of 1 megawatt-hour (MWh), each CEC certifies that the electricity consumed by the redeeming Abu Dhabi-based entity originates from a renewable or clean energy source. CECs conform to the internationally recognized standard developed by the International Renewable Energy Certificate Standard Foundation (I-REC Standard) and are the only accredited instrument that proves the ownership of the environmental and economic benefits of consuming clean energy.
Doubts Revealed
EWEC -: EWEC stands for Emirates Water and Electricity Company. It is a company in the United Arab Emirates that provides water and electricity services.
Clean Energy Certificates -: Clean Energy Certificates (CECs) are like special tickets that show a company is using clean, renewable energy like wind or solar power instead of dirty energy like coal.
Auction -: An auction is a way to sell things where people bid money, and the highest bidder wins. In this case, companies bid to buy Clean Energy Certificates.
Abu Dhabi -: Abu Dhabi is the capital city of the United Arab Emirates, a country in the Middle East.
Q3 2024 -: Q3 2024 means the third quarter of the year 2024, which includes the months of July, August, and September.
Carbon emissions -: Carbon emissions are gases like carbon dioxide that come from burning things like coal, oil, and gas. These gases can harm the environment and make the Earth warmer.
Renewable energy -: Renewable energy comes from sources that don’t run out, like the sun, wind, and water. It’s better for the environment than energy from coal or oil.
CEO Othman Al Ali -: Othman Al Ali is the Chief Executive Officer (CEO) of EWEC. A CEO is the person in charge of running a company.
Net Zero by 2050 -: Net Zero by 2050 is a goal to stop adding more carbon emissions to the atmosphere by the year 2050. This helps fight climate change.
