Rosatom and Carbon Zero Sign Contract to Register Green Certificates

WindSGC-2 (part of NovaWind) and Carbon Zero LLC signed a contract to maintain a register of green certificates. According to the contract, Carbon Zero will maintain a register of certificates issued for the electric power generated at Rosatom’s renewable energy facilities as required by the green electricity certification standard.

Three of Rosatom’s wind farms – Medvezhenskaya, Berestovskaya and Kuzminskaya – are entered into the register.

The certificates will best suit those consumers who are not wholesale electricity market entities and cannot buy green electricity through free bilateral agreements.

“Responsible power consumers now have a fully functioning retail tool to confirm sustainability of their operations. The scheme developed in Russia has replaced the international certification systems that left our market and has given Russian companies an opportunity to reaffirm their commitments to the ESG principles and decarbonisation. We expect the first green certificate deals to be made with the interested companies in the near future,” NovaWind CEO Grigoriy Nazarov said.

“Rosatom has long been a driver of the low carbon agenda in Russia. And now, after NovaWind’s generation facilities are put on the register, Russian consumers have much more opportunities to use green certificates associated with the power generation at the new wind farms,” Vladislav Berezovsky, Director of Business Development at Carbon Zero, pointed out.

For reference:

Carbon Zero LLC maintains a register of Russian green certificates. The company offers sustainability solutions to reduce and offset carbon footprint, providing brokerage and consulting services in the certification of electricity origin and verification of carbon units, climate action projects, carbon reporting, and the development of GHG inventory automation software.

A source of electricity for industry and households, the power industry paves the way for a progressive social and economic development of the country. Rosatom State Atomic Energy Corporation as a low carbon electricity producer is working consistently to enable the transition to a green economy. Environmental mitigation and biodiversity conservation are the priorities of the Russian nuclear corporation in environmental management. Low-carbon power sources already account for nearly 40 % of the Russian energy mix. Their share will only be growing as the use of nuclear and renewables gains ground.

A green certificate, or a guarantee of origin, proves that certain electricity has been produced using renewable energy sources, such as wind, solar, hydro, and others. The certificates are tradeable separately from the electric power for which they have been issued Every transaction with green certificates is entered into a dedicated register.

The green certificate is an asset separate from electricity – it captures the rights related to the positive effects of renewable generation and makes them tradeable. After a company purchases and redeems green certificates, it may declare the use of green energy in its non-financial reports, advertisements and product labels. Today, it is the most widely used method of embarking on green energy.

The Russian voluntary Carbon Zero standard approved by the Climate Task Force of the National ESG Alliance is the only green certification standard currently available in Russia after the withdrawal of international certification systems. The standard adheres to AIB and RE100 principles and follows GHG Protocol guidelines to enable responsible power consumers in Russia to offset their carbon footprint from energy consumption and support the development of renewable energy sources with proven and reliable tools.