14 Apr 2023 13:10

Russian green certificates system could start operating in late 2023 - Energy Ministry

MOSCOW. April 14 (Interfax) - Russia's green certificates program could start operating as early as the end of 2023, the Energy Ministry said on its Telegram channel, citing the director of its electricity development department, Andrei Maximov.

The system will enable electricity consumers to confirm that they are using renewable and low-carbon energy sources to manufacture their products. For this purpose, it is proposed that attributes of generation be assigned the status of a new object of civil rights, the ministry said.

It will be possible to sell green certificates together with electricity or separately. An infrastructure organization will verify whether low-carbon energy sources are actually used in the production process, the ministry said.

Until the spring of 2022, Russian companies used the international certificate system I-REC, which confirms production of electricity from green and renewable sources, but its operation in Russia was halted due to sanctions.

Companies such as PJSC Fortum , PJSC RusHydro and En+ Group entered into I-REC certificate sales contracts with consumers. RusHydro even announced a competitive tender for offers to buy I-REC certificates due to strong demand. Companies that purchased such certificates included Sberbank , IKEA and gold miner Polyus .

Russia was also working on its own system of low-carbon, or green certificates. This will be an electronic document issued based on actual electricity production at facilities with a low carbon footprint, such as solar and wind farms, and hydro and nuclear power plants. Owners of power plants will have the right to get the certificates, but will not be obligated to do so.

The State Duma has now passed the bill on green certificates in the first reading.