Sber, KuibyshevAzot, Solar Systems close first green energy deal using bank’s blockchain platform
The first green energy deal in Russia has been closed on Sber’s cloud-based blockchain platform for Renewable Energy Certificates (REC) with the key partners of the bank, Solar Systems Group of Companies and KuibyshevAzot. The planned value of the deal is 4,998 certificates, 1 MWh each.
A new market for green technology is starting to evolve in Russia, and the solution developed by the Sber Blockchain Laboratory should become a convenient platform for all its participants. Green certificates confirm the origin of energy from renewable sources. Power generation companies will be able to sell such energy with or separately from physical supplies. Sales companies will be able to buy and redeem such certificates to meet the requirements of key international sustainability standards. This tool should improve the transparency of renewable energy consumption.
The significance of the agreement we’ve signed today is hard to overestimate. It is essential that now we can see what kind of energy is being used in production, and the products that are manufactured using green energy will have their certificates. This is the first blockchain platform of this kind in Russia, but it has incorporated the best practices from Europe and around the world. Today’s deal is a big step into the future, and I thank our esteemed customers and partners for taking this step together
First Deputy Chairman of the Executive Board, Sberbank
KuibyshevAzot consistently adheres to the principles of sustainable development and reduction of environmental impact. We pay special attention to reducing emissions, including direct and indirect greenhouse gases that our suppliers generate when producing electricity. The use of green energy from renewable sources is in line with the global UN principles fighting climate change and protecting the environment
CEO, PJSC KuibyshevAzot
We are heavily engaged in the production of green electricity, but also its promotion and popularization, and Sberbank supports our efforts systematically. Today’s signing is a landmark event proving Russia has a pool of companies committed to sustainable development principles with a focus on reducing greenhouse gas emissions, and there’s a demand for green energy certificates. It is symbolic that the first exchange of certificates is taking place inside one region of Russia, Samara Region. We will continue to move in this direction using all our capabilities, as well as the resources and technological platforms of our strategic partner, Sberbank
Chairman of the Board of Directors, Solar Systems
In Russia, the expected consumption of green certificates nears 120 million units, the potential production of 1 MWh certificates is 400 million. The annual production of green electricity in Russia as of January 1, 2020 (million MWh): 208.8 (NPPs), 190.3 (HPPs), 1.3 (solar farms), 0.32 (wind farms). Prices for certificates are not regulated anywhere around the world, but in Europe, they can range from 0.5 to 2 euros per 1 MWh.