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I-REC Standard Established in Israel and Endorsed by Government

05 November 2018 |

Natural Capital Partners worked with a major semiconductor manufacturer and local renewable energy generators to establish the I-REC standard in Israel. This has been supported by the recent announcement from the State of Israel that it supports the development of the I-REC Standard as a method to account for Scope 2 emissions within the national voluntary GHG Registry.

Around 185MW of I-REC capacity is now registered in Israel, and this is set to increase as additional renewable power plants are registered to issue I-RECs, paving the way for other businesses to achieve bold renewable energy goals in the country.

Having identified that our client had a key operational area that wasn’t currently served, we were keen to find the right partners and establish the renewable energy infrastructure they required,” said Oliver Crouch, Natural Capital Partners’ Chief Product Officer. “We look forward to continuing to work with the I-REC Standard both in Israel and in other parts of the world where robust, credible renewable energy tracking systems are required,” he continued.

Published in October, a letter from the State of Israel’s Ministry of Environmental Protection states that the I-REC Standard and registry in Israel “should encourage companies to contribute to increasing their consumption of renewable electricity and in turn support the generation of these technologies.”

The I-REC Standard is the leading Energy Attribute Certificate (EAC) standard outside of Europe and North America and is available in 22 countries around the world. Natural Capital Partners initiated the establishment of the Standard in several of these countries to respond to client needs, including in Israel, Brazil and the Philippines.

The flowchart below shows Natural Capital Partners’ approach to developing new I-REC markets, with the Israel example alongside.

Contact Oliver Crouch for information about how your company can source I-RECs in Israel and around the world: ocrouch@naturalcapitalpartners.com.

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