zaRECs

zaRECs (Pty) Ltd. administers the South African voluntary REC market along the lines of the EECS specifications on behalf of members of the voluntary Renewable Energy Certificate South Africa market participant’s association (RECSA).

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Product Description

Renewable Energy Certificate (REC) activity in RSA started in 2002 during the Johannesburg-based World Summit on Sustainable Development (WSSD), which was one of the first international summits to have used green power for the electricity used for the summit through purchase of RECs.

Following the WSSD, a voluntary market participant association, Renewable Energy Certificates South Africa (RECSA), was set up in the year 2005 by founding trustees, and RECS international members, GreenX Energy and Amatola Green Power. RECSA acts as the coordinator of RECs in RSA. zaRECs has been appointed as the interim issuing body for the issuing and administration of RECs in RSA.

The feasibility study carried out by the Department of Energy (DoE) recommended a South African Issuing Body to be set up based on the experience of the general and robust framework of the Basic Commitment as amended by the Principles and Rules of Operation (PRO) of the Association of Issuing Bodies (AIB) of Europe.  Administration costs are in the order of 1% for average retail priced, low volume transactions.

Read more about zaRECs http://www.zarecs.co.za/about-recs.

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