The I-TRACK Foundation Board has approved Myanmar for I-REC for Electricity [I-REC(E)] issuance. Approval came after the submission of a country report detailing various aspects of the electricity generation market, including a review of supporting documents and commercial structures, and confirmation of interest in introducing I-REC(E) to support further renewable energy development in the country.    

I-REC(E) Issuer in Myanmar   

Onboarding of the local Issuer for Myanmar is currently being finalized. Registrants seeking to register or request issuance of I-REC(E) from generation devices should contact GCC (the Green Certificate Company) for updated information.  

Myanmar  

Myanmar (formerly Burma) is situated in northwest Southeast Asia bordering India, Bangladesh, China, Laos and Thailand. Myanmar has long struggled with low levels of electrification, but by 2019, electrification had risen to 50% in urban areas like Yangon City (83%), Loikaw (77%), Mandalay (56%), and Nay Pyi Taw (39%). However, the military coup in 2021 has reversed much of this progress, causing widespread degradation of the national grid, diminishing access to reliable electricity, and significantly affecting power supply across the country.  

Historically, Myanmar has benefitted from renewable energy including grid-connected hydropower plants and is expected to increasingly make use of solar energy potential which is estimated at 51,973.8 TWh per year. In the context of this large potential solar resource, the decline in the costs of solar PV modules and enabling technologies provides Myanmar with the opportunity to significantly decarbonize its electricity system. To the knowledge of the I-TRACK Foundation, there were no existing energy certificate systems available to developers in Myanmar prior to the present approval for I-REC(E) issuance. As a result, it is anticipated that the deployment of I-REC(E) in the country will introduce new financial benefits for renewable energy project developers active in the country, in support of increased renewable generation.   

The I-TRACK Foundation recognizes that by leveraging I-REC(E), developers can monetize their sustainable energy use, strengthening the economic feasibility of their projects while contributing to Myanmar’s clean energy transition.