First P-REC Transaction Completed by Microsoft in Congo
The I-REC Standard issuer for The Democratic Republic of Congo (DRC) and South Sudan, Energy Peace Partners (EPP), has announced that the first Peace Renewable Energy Credits (P-RECs) have been sold. P-RECs are I-RECs with a “Peace” label. This label signifies high impact social co-benefits in fragile, energy-poor countries. More information about P-RECs can be found here.
The first-ever P-REC transaction originated from a newly created solar installation in the city of Goma in the north-eastern portion of the DRC. The project developer, Nuru, was able to sell the P-RECs to Microsoft. Income from the P-REC transaction went to support the local community. The I-REC Standard congratulates all parties involved in the deal and will continue to provide a reliable platform for P-RECs for many years to come.
The press release from EPP can be accessed here.