ALLCOT has registered the first TIGRs project from Latin America certified by APX, a leading provider of infrastructure solutions to the environmental and energy markets. The project is a hydro plant situated on the Guatemalan highlands of San Marcos.
Tradable Instruments for Global Renewables or TIGRs℠ are a new product for the voluntary renewable energy markets launched by APX last year, because companies had expressed the importance of utilizing renewable energy to meet their sustainability goals, and having market infrastructure to support these efforts globally. Different regulatory and energy policies at the national level create a need for a standardized instrument to track renewable energy production and ownership of the accompanying environmental benefits.
With the launch of TIGRs, companies now have an instrument to help them document their sustainability efforts while also providing transparency to the market, making it easier to find renewable energy projects and sellers.
ALLCOT is a firm believer in the development of a mix of tools to meet the climate challenges we face, as such, it feels that TIGRs provide an attractive and robust mechanism for businesses to demonstrate sustainability commitment and perform towards leading initiatives like the RE100.
The project
The San Rafael Hydroelectric power generator has a 4,2 MW capacity. Situated on the Guatemalan highlands of San Marcos, it is a run of river with no negative environmental impact.
In addition to providing renewable energy, the project owners are engaging with the local communities through various actions to improve the living standards of the locals at San Rafael de la Cuesta. Some of which being, the financing of Guatemala’s first call center outside of the capital city, with a language school to teach locals English and train them for this industry, creating jobs in the rural area.
Further, the project owner has also financed 80% of the LED lamps in the town, built a water tank for Chayen village, built a new social area, and refurbished the access road for the people of Palo Quemado village.
The project has been operating for little over a year and currently 26,930 TIGRs have been generated.
About ALLCOT
Established in 2009, ALLCOT is a leader in greenhouse gas (GHG) emissions management tools and strategies for businesses of all sizes.
Our services include the development of GHG emissions offsetting, measurement and the development of emissions reduction strategies.
Using our innovative approach, we build creative, long-term sustainability partnerships with clients from a variety of commercial sectors, such as hospitality, sports and fashion. By neutralizing their GHG emissions, these companies are not only able to protect the environment, but also provide community benefits that enhance profitability and brand value, increase employee satisfaction, and promote the United Nations Sustainable Development Goals.
About APX Inc.
For more than 15 years, APX has been the trusted infrastructure and services provider to the power and environmental markets. APX’s experience intersects every aspect of the renewable energy and voluntary carbon markets. Our proprietary grid scheduling, settlement and dispatching systems, integrated with SCADA and forecasting, provide a full suite for renewable energy generators. We operate over 13 renewable and carbon registries worldwide. More than 4,000 companies globally rely on APX products and services for integrity in environmental markets with more than 1 billion credits transacted.