The International Tracking Standard Foundation: Founder of I-REC (I-TRACK Foundation) Board has approved Nepal for I-REC for Electricity issuance. Approval came after the submission of a country report detailing various aspects of the electricity generation market, including a review of supporting policies, and confirmation of interest in introducing I-REC(E) to support further renewable energy development in the country.
I-REC(E) Issuer in Nepal
The Green Certificate Company (GCC) has been approved as the I-REC(E) Issuer in Nepal until a suitable local organization has been identified. GCC is already responsible for the issuance of I-REC(E) in many I-REC(E) countries around the world as a default Issuer.
Nepal
Nepal is in the Himalayas and includes the Earth’s highest point – Mount Everest. The Federal Democratic Republic is landlocked by its neighbouring countries, China and India. Nepal is an emerging economy with vast potential to generate clean, green, sustainable and climate-resilient renewable energy from diverse sources.
Nepal’s National Planning Commission (NPC) has prepared the Sustainable Development Goals Status and Roadmap 2016-2030, which aims to achieve Nepal’s Sustainable Development Goals (SDGs) by 2030. This roadmap aims to achieve the targets as follows.
- Increase access to electricity in 99% of households
- Limit usage of LPG to less than 40% by promoting electric cooking.
- Increase per capita consumption of electricity to 1500 kWh
- Generate 15,000 MW of installed capacity to meet the rising demand
With no REC systems in place in Nepal and limited carbon credit issuance in the renewable energy sector, the introduction of I-REC will be useful for hydropower, solar, and biogas, while consumption segments (beyond conventional electricity procurement using RECs) may benefit the electricity mobility and green hydrogen segments.
The I-TRACK Foundation recognizes the efforts made by Nepal’s continued commitments to developing and implementing plans for renewable energy sources and access, and is pleased to welcome Nepal as an I-REC(E) issuing country.