– First digital platform to provide end-to-end management of Brazil I-REC
GoNetZeroTM, Sembcorp’s carbon management solutions corporate venture, launched its blockchain-powered digital platform for trading Brazil International Renewable Energy Certificates (I-REC) at the inaugural I-REC Day Brazil in São Paulo, Brazil. The launch is the result of a collaboration with Instituto Totum, the authorised local issuer of I-REC in Brazil, to integrate the digital platforms of Instituto Totum and GoNetZero™.
The collaboration puts GoNetZero™ in a strong position to support the fast-growing renewable energy certificate market in Brazil. Brazil is the world’s second largest I-REC market where the volume of I-REC issued in 2022 doubled from the year before to 22 million, representing green energy equivalent to powering 4.0 million typical households* in Singapore for a year.
Renewable energy generators in Brazil are now able to seamlessly list their I-REC for sale directly on GoNetZero™’s platform upon the issuance of the I-REC by Instituto Totum. The streamlined process offers generators faster speed to market and convenient access to GoNetZero™’s global network of buyers. For corporates, GoNetZero™ provides a unique end-to-end journey for managing the entire life cycle of renewable energy certificates online – from issuance, trading and management to retirement.
CGN Brazil Energy, a subsidiary of China General Nuclear with 1.3GW of wind energy capacity in Brazil, has successfully onboarded its assets on GoNetZero™.
Ng Lay San, Co-founder and Head of GoNetZero™ said: “GoNetZero™ supports corporates to achieve their decarbonisation goals. We are pleased to deepen our reach in Brazil and are thankful to work with Instituto Totum, a like-minded innovative partner, to support the growing renewable energy market in Brazil.”
Fernando Giachini Lopes, Founder and CEO of Instituto Totum said: “The role of Instituto Totum is to facilitate access to the I-REC market in Brazil and this joint work with GoNetZero™ has achieved this objective: greater liquidity for I-REC Registrants and Participants and more access for buyers of any scale.”
