Namibia is now approved as I-REC(E) issuing country
The International REC Standard Foundation has recently approved Namibia for I-REC for Electricity issuance. The approval of Namibia came after the submission of a country report detailing their current and future levels of electrification as well as a signed letter of no objection from the national authorities.
The I-REC Issuer in Namibia is Green Certificate Company (GCC). GCC certifies renewable energy generation around the world. The I-REC Standard Foundation often approves GCC as the default Issuer of I-REC(E) in the case no other suitable local Issuer can be identified. GCC as the default Issuer will be released from their position if a suitable local alternative is identified.
Namibia is situated in southern Africa and has a population of approximately 2.3 million people. Its installed energy capacity is mainly renewable with hydro accounting for over half of the available resources and fossil fuels fuel making up over a quarter of supplies. But the installed electrical generation capacity is insufficient to meet the demand for electricity, which causes Namibia is importing large amounts of electricity from neighboring countries, mainly South Africa.
However, Namibia is well endowed with Renewable Energy (RE) potential. In fact, is the world’s second-highest solar irradiation regime with the entire country having radiation of more than 5.5 kWh/m²/day, and sizeable regions having levels as high as 5.8 kWh/m²/day or greater. Additionally, it has high wind power potential, especially in coastal areas where wind speeds reach 10 m/s or faster, and is home to several hot springs indicating the potential for geothermal energy development.
Currently, the electricity market is regulated by the Electricity Control Board (ECB) which has a specific branch for renewable energy and environmental issues are managed by the ECC (Environmental Compliance Consultancy) which issues to all electricity producers based on the environmental impact assessment of each project to be renewed every 3 years. There are no indications of any conflict whatsoever between the I-REC Standard and the current carbon market. In fact, the I-REC Standard Foundation has received a no-objection letter from the Executive Director of the Ministry of Environment, Forestry, and Tourism, for the introduction of I-REC(E) to Namibia. The Ministry recognizes the instrumental role EACs can play in encouraging the growth of renewable energy in Namibia.
For more information on Namibia, check out the I-REC Standard website country page.