Monsoon Carbon has registered two new renewable energy projects in Laos for International Renewable Energy Certificates (I-RECs) on the International Tracking Standard (formerly the I-REC Standard).
The registration of these additional power plants will be welcome news for sustainability managers in Laos. Buyers now have the option to purchase RECs from Low-Impact/Small Hydropower assets, which are usually a preferred alternative to RECs from Large Hydropower plants.
Xenamnoy 2 – Xekatam1 Hydropower Project
Xenamnoy 2 – Xekatam1 Hydropower Project is a run-of-river hydropower plant currently in operation in B.Namtuad, Paksong District, Champasack Province, Lao PDR.
The Project was commissioned on July 1st, 2017 with an installed capacity of 20.1 MW, generating about 108 GWh per year.
The average annual issuance is 108,000 I-RECs.
Nam Che 1 Hydropower Project
Nam Che 1 Hydropower Project is a run-of-river hydropower plant currently in operation in B.Namlong, Thathom District, Xaysomboon Province, Lao PDR.
The Project was commissioned on June 1st, 2019 with an installed capacity of 15 MW, generating over 70 GWh per year.
The average annual issuance is 70,000 I-RECs.
Benefits of these I-REC Projects
These projects offer a variety of benefits for economic growth, the environment, and local society in Laos.
Support Laos’ Efforts to Achieve Climate Goals
The projects contribute to Laos’ energy transition, supporting the goal of achieving a 30% renewable energy share by 2025. They are expected to reduce a total of about 218k tCO2e per year.
- Nam Che 1 Hydropower Project: 85k tCO2e avoided
- Xenamnoy 2 – Xekatam1 Hydropower Project: 133k tCO2e avoided
Additionally, the projects take continuous reforestation efforts to help combat deforestation and improve the local environment.
Empower Rural Community Development
The projects have significantly improved social well-being in local communities in Laos by creating jobs, offering regular training, and establishing a Sustainable Agriculture Training Center to empower local farmers. Additionally, the projects support community development through ongoing CSR activities.
These projects contribute to SDG 7 “Clean Energy”, SDG 13 “Emissions Reductions”, SDG 8 “Job Creation” and SDG 4 “Quality Education”.
Companies in Laos can now Purchase Run-of-River Hydro I-RECs!
The projects are now generating small hydro I-RECs available for purchase, enabling companies in Laos to certify their consumption of renewable electricity in Laos and reduce their climate impact.
About RECs
A REC is evidence that a unit of electricity was generated from a renewable source. RECs are issued and purchased on the basis that one certificate represents one megawatt hour of renewable electricity.
These certificates are purchased and retired to reduce a company’s Scope 2 emissions. Outside of the EU and the US, the most common standard for RECs is the International Renewable Energy Certificate (I-REC).
Purchasing I-RECs is a cost-effective way to reduce a company’s carbon footprint. For the owners of renewable energy projects, I-RECs reward a project for the environmental attributes of the power they generate. This incentivises the replacement of non-renewable power and supports the transition to clean, renewable national grids.
You can read more about RECs here, or use the contact form below to get in touch with us about I-RECs.
