Renewable Energy Certificate System in BIMP-EAGA Countries (RECAP) Project

The RECAP project aims to:  

• Study the market potential of RECs in BIMP-EAGA countries
• Study the REC registries function vis-à-vis national electricity market rules of BIMP-EAGA countries
• Develop a conceptual framework for the REC system in BIMP-EAGA countries

The goals of the project are to:  

• The identification of REC market potential in BIMP-EAGA countries:
  • The key drivers and needs of the companies or enterprises that look for RECs,
  • The projection of RECs transaction volumes in the targeted countries,
  • The targeted countries’ level of interest and readiness to support the growth of local and regional REC transactions.

• The findings of REC registries function vis-à-vis national electricity market rules of BIMP-EAGA member states:
  • The national electricity market rules/regulations assessment for renewable energy projects,
  • The measurement, reporting, and verification (MRV) requirements for REC and carbon credit registries.

• The conceptual framework of the REC system in BIMP-EAGA countries:
  • The roles and responsibilities: domestic verifiers, regional issuer, etc.,
  • The consent and common understanding of the governance and funding strategies.

The RECAP Project is funded by BKCF and managed by the GGGI to provide grants for programmes and projects to address strategic country needs and priorities of BIMP-EAGA. The fund aims to support BIMP-EAGA’s Vision 2025, prioritising three strategic thrusts: Environment, Connectivity, Tourism, Agriculture and Fisheries.

Further Links

BIMP-EAGA website: https://bimp-eaga.asia/ 

BCKF Webpage: https://gggi.org/global-program/bkcf/