The International REC Standard Foundation board authorizes issuers in Russia and Thailand

24 March 2020

The board has authorized Goal Number Seven (GNS) as local Issuer of Russia. GNS (link to website) is a Moscow-based, non-governmental association that contributes to the 7th Sustainable Development Goal (Affordable and Clean Energy) of the UN by uniting various stakeholders such as participants and research organizations in the renewable energy sector. GNS, being the successor of a 2013 established non-commercial partnership “Association of the renewable energy market participants”, has many years of experience in the Russian renewable energy market and is therefore well connected with both market players and local authorities. The accreditation process, the procedure in which the issuer learns how to fulfil the work of issuer in a robust, reliable and trustworthy manner, has been completed by GNS. As such, Russia is now available for issuance through GNS.

The board has also authorized EGAT as issuer in Thailand. EGAT is a major player in the Thai electricity market and fulfils several roles in this market including the role as grid operator. Given their importance in the Thai electricity market, the board believes that EGAT is the logical entity for being the local I-REC issuer in Thailand. Multiple meetings between the I-REC Standard Foundation and EGAT resulted in a clear understanding on how to ensure the independence in issuance activities in the Thai market. GCC is handling issuance in Thailand until EGAT has completed the required steps to be accredited as issuer.