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S&P Global launches first I-REC price assessment in Brazil, India and Turkey

S&P Global Commodity Insights today announced an independent suite of price assessments for International Renewable Energy Certificates (I-RECs) in BrazilIndia, and Turkey

S&P Global launches first I-REC price assessment in Brazil, India and Turkey
S&P Global launches first I-REC price assessment to improve pricing transparency

The assessments are published by Platts, a division of S&P Commodities Insights, for Turkey and India from Sept. 5, and will start in Brazil from Sept. 6 due to the US Labor Day bank holiday.

The I-RECs assessments reflect spot deliveries of certificates, representing a minimum 1 GWh, for prior year and current year vintages, rolling to the next vintages at the start of each calendar year, said S&P Global.

Assessments are published for the following technologies and units of measures suited for each region:

  • Brazil: assessments are published in BRL/MWh, USD/MWh and Eur/MWh at a 4:30 pm Sao Paulo, Brazil for biomass, hydro, solar and wind technologies.
  • Turkey: assessments are in Eur/MWh and USD/MWh at a 4:30 pm London close for biomass, hydro, solar and wind technologies.
  • India: assessments are in INR/MWh, USD/MWh and Eur/MWh at a 5:30 pm India/1200 GMT timestamp for hydro.

Brazil is the largest I-REC market in Latin America while Turkey and India represent two of the largest markets in Asia.

The aim of the assessments is to augment pricing transparency for the burgeoning market of certified renewable power generation, said S&P Global in the announcement.

“As the energy transition progresses, more energy consumers are looking to I-RECs to meet renewable energy goals or mandates, which in turn is creating a growing demand for assessment and transparency of these certificates globally,” said Alan Hayes, Head of Energy Transition Pricing for S&P Global Commodity Insights.

“With our Platts Global I-REC assessments market participants will now have pricing transparency within the key energy markets of Brazil, India, and Turkey,” he added.

I-RECs certificates are a way for consumers of electricity to have confidence that their power consumption comes from renewable sources.

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