The certificates, called RECs, are market-based instruments substantiating that electricity has been generated from renewable energy sources. One certificate represents that one megawatt-hour (MWh) of electricity was generated from a renewable energy source and delivered to the grid.
“These guidelines will help support renewable energy deployment in Singapore and in the region, supporting the development of a regional grid that taps different types of low carbon energy sources in the region,” Tan See Leng, the minister for manpower and second minister for trade and industry said at the Asian Clean Energy Summit.
Tan said the guidelines were the first of their kind in Southeast Asia and define the types of renewable energy sources – such as solar, wind and biomass – that are eligible to generate RECs.
“The growth of a regional grid presents opportunities across the renewable energy value chain, and can leverage our current renewable energy ecosystem,” said Tan.