September 8, 2021, Moscow, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces the start of competitive request for proposals for the purchase of I-REC certificates acknowledging the origin of electricity from renewable energy sources.
The Company is also accepting proposals for unregulated bilateral contracts confirming electricity supply along with instruments validating environment-friendly source of the electricity supplied. RusHydro will accept proposals from 08.09.2021 to 22.09.2021, details are available on the Company’s corporate website.
Acceptance of requests for proposals came on the back of regular inquiries by local companies, including export-oriented companies as well as foreign companies operating in Russia to purchase electricity produced by RusHydro’s hydropower plants (electricity generated by renewable and low-carbon energy sources).
RusHydro is in the process of certifying its generating facilities in accordance with the I-REC (International Energy Certificate) international certification system of renewable energy sources (RES) which affirm the origin of generated electricity from RES.
I-REC Standard Foundation, a non-commercial organization, developed and implemented “green” certificates. I-REC Certificates, which track the source of electricity and provide supporting evidence of electricity production, are issued by accredited organizations in 35 countries.
Certification is under way in accordance with the agreement between RusHydro and “Goal Number Seven”, the Association of Energy Markets Participants. Upon completion, RusHydro will be able to offer its potential business partners, seeking to achieve sustainable development goals, certificates together with bilateral contracts for electricity supply. RusHydro guarantees that neither its certificates for the volume of electricity produced will be issued to third parties nor will the unregulated bilateral agreements for electricity produced under the certificates be entered between RusHydro and third parties.
RusHydro is a leader in green electricity production in Russia. The Group’s profile includes 100 renewable energy facilities including 69 hydropower plants, 3 geothermal power plants, 23 solar power plants and 6 wind power plants. RusHydro is continuously expanding the share of renewable energy sources in its power balance. Over the last five years, the company has commissioned 1.1 GW of renewables. Efficient operation of hydropower facilities last year saved over 63 million tons of CO2 equivalent emissions.