Singapore's SP Group to issue international green energy certificates

It also fully automated its digital REC trading platform.

Singapore's SP Group (SP) has been authorised as a local issuer of International Renewable Energy Certificates (I-RECs) or tradable certificates of energy from renewables, the first in Asia Pacific, according to a press release.

Each megawatt-hour of green energy produced is recorded as one REC and uniquely numbered and tracked. It can be used for achieving renewable energy targets and for reporting consumed energy as coming from renewable sources.

SP has also fully automated the process of buying and selling RECs through its digital REC trading platform.

Launched in 2018, the platform was designed by its in-house digital engineers as a means of linking up buyers and sellers of RECs. However, SP found that sellers needed to go through many of the processes manually.