Initially in Singapore with additional countries in Asia and worldwide to follow
APX, Inc., a leading provider of infrastructure solutions to the environmental and energy markets, is pleased to announce the launch of a new product for the voluntary renewable energy markets – Tradable Instruments for Global Renewables or TIGRs℠.
Most recently at the Renewable Energy Buyers Alliance Summit, companies have 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.
In partnership with Sunseap, Singapore’s leading solar power developer; multi-national corporate buyers; and the Solar Energy Research Institute of Singapore (SERIS), APX has launched the first phase of this initiative with the issuance of TIGRs generated by solar projects located in Singapore. APX utilized the highest standards in developing a rigorous process for reviewing companies, validating renewable projects and verifying renewable generation production data. “We appreciate the leadership of APX in developing the TIGRs instrument and are pleased to have collaborated in launching this ground breaking platform for Asia. The registration, verification and tracking protocols managed by APX are world class and provide confidence for our clean energy buyers, who need certainty that their purchases are truly fulfilling their corporate requirements. Given Sunseap’s leadership in the Singapore solar market, and our regional expansion activities, we view this initiative as critical to the success of renewable developers and the growing deployment of clean energy solutions” said Dominic Garetto, Sunseap Group’s VP of Corporate Development.
TIGRs will be issued on a new APX registry, to be released for wide participation in Singapore and more broadly in Asia. The new registry will use APX’s proven registry technology, operations expertise and protocols to meet the demand for a globally trusted renewable energy market structure. “We’re excited to be the authorized Verification entity for TIGRs on APX’s platform. The stringent review process of SERIS as independent third party brings confidence to the marketplace and we’re seeing a lot of enthusiasm from many companies to participate. The enquiries we have received are not only for Singapore, but across Asia and also include other Renewable energies such as wind or biomass,” said Dr Thomas Reindl, Deputy CEO and Cluster Director Solar Energy Systems at SERIS.
“We believe creating a branded instrument is the best way for APX to help create the level of transparency and authentication needed to ensure a credible renewable energy ecosystem for the global market. We believe TIGRs will catalyze increased renewable energy purchases in our first market, Singapore, and in Asia more broadly,” said Katherine Graham, Product Manager at APX.
Learn more about Tradable Instruments for Global Renewables and call +1 (408) 517-2100 to explore how APX can support you with TIGRs℠.
For over 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 getting inter-connected. We operate over 13 renewable and carbon registries worldwide. More than 2,000 companies globally rely on APX products and services for integrity in environmental markets with more than 1 billion credits transacted.
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Founded in 2008, SERIS is Singapore’s national institute for applied solar energy research. The institute conducts research, development, testing and consulting in the fields of solar energy conversion (PV cells, modules, systems) and solar building technologies, to contribute towards a global sustainable development. SERIS not only conducts R&D, but also offers professional services to the industry. The institute is ISO 9001 certified. SERIS is globally active but focuses on technologies and services for Singapore and the Asia-Pacific region. SERIS also operates Singapore’s National Solar Repository (www.solar-repository.sg) as a one-stop shop for solar PV in the country. More info on SERIS can be found under: www.seris.sg
Sunseap Group is the leading solar energy system developer, owner and operator in Singapore. It operates through 3 key units; Sunseap Leasing, Sunseap International and Sunseap Energy. Sunseap Leasing is the first and largest solar leasing company in Singapore, while International targets regional markets with a similar business model. Sunseap Energy provides clean energy solutions utilizing off-site arrangements by drawing on solar systems within the Group’s portfolio of distributed generation assets. This unique, fully licensed business model with an established base of generating capacity allow companies and organizations looking into sustainability to utilize clean energy even if their buildings are not suitable for on-site solar installations. Visit the company online at www.sunseap.com.
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