Through clean energy program, Renewable Energy Certificates now available in Myanmar

In partnership with the Smart Power Myanmar program, renewable energy producers in Myanmar now have greater access to revenue and financing pathways through the introduction of International Renewable Energy Certificates for Electricity, also known as I-REC(E). 

This first-of-its-kind milestone for Myanmar enables new revenue streams for businesses that generate renewable energy, while improving the bankability of the country’s burgeoning solar sector. By enabling additional revenue opportunities from existing renewable energy assets, I-REC(E) de-risks renewable energy investment and incentivizes new developments. 

Myanmar’s renewable energy sector has grown rapidly due to years of unreliable grid supply, rising fuel costs, and increasing demand for affordable and stable electricity. However, limited access to financing has constrained the pace of new solar development. I-REC(E) addresses these barriers by improving project ROI and investment confidence. 

I-REC(E)s are internationally recognized energy attribute certificates that represent verified renewable electricity generation, with one I-REC(E) issued for every verified megawatt-hour (MWh) of electricity generated by registered facilities. I-REC(E)s are globally recognized and can be sold to local and international companies, providing a credible and auditable way to meet environmental goals while directly supporting green energy. Last year, nearly 300 million I-REC(E)s were issued globally. 

Smart Power Myanmar is the first The International Tracking Standard Foundation-accredited issuer of I-REC(E) in Myanmar. Smart Power Myanmar is responsible for registering renewable energy production facilities, verifying eligible electricity production, and issuing I-REC(E)s, and will support the development of an accessible and transparent market for buyers and sellers. 

With the introduction of I-REC(E), renewable energy plays an even larger role in Myanmar’s business community by strengthening the investability of renewable energy assets and providing credible pathways to sustainability for environmentally conscious companies.

More information: irec@smartpowermyanmar.org

More about Smart Power Myanmar: smartpowermyanmar.org