Singapore’s Sembcorp launches REC trading platform

Sembcorp Industries, a Singapore-based renewable energy company, has launched a renewable energy certificate (REC) trading platform that manages RECs from multiple sources. Backed by the growth of the renewable energy sector in China and Southeast Asia, the Sembcorp platform allows customers to trade REC100 recognised RECs to meet their green energy requirements. Sembcorp’s REC platform combines RECs from different sources with those generated from Sembcorp, which is helpful for companies looking to purchase large volumes of RECs to offset their carbon footprint. Sellers are free to sell their RECs as long as they fulfil the criteria of the Sembcorp REC platform. The platform uses blockchain that ensures the authenticity and transparency of each transaction, which is validated by third-party validators. The platform also offers real-time tracking to monitor every transaction from generation and registration to transfer and eventual retirement.

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