PUTRAJAYA: The renewable energy certificate (REC) is open for bidding from noon on Oct 7 to 5pm on Oct 11, according to the Energy Transition and Water Transformation Ministry.
It said 1000 GWh renewable energy (TBB) certificates from hydro sources and 100 GWh TBB certificates from solar sources are open for bidding.
According to a statement on Saturday (Oct 5), the ministry is opening the bids through the Malaysia Green Attribute Trading System (mGATS) platform to enable corporate companies and business entities to fulfil their Environmental, Social, and Governance (ESG) commitments.
It said Tenaga Nasional Bhd (TNB) developed and operated the mGATS bidding platform through its subsidiary, TNBX Sdn Bhd.
The bidding process would be conducted monthly through the website https://platform.mgats.com.my until all the TBB certificates are sold out.
Details for commercial transactions of the TBB certificates are available at www.mgats.com.my.
According to the ministry, the certification and registration of the offered TBB certificates will be based on standards by international certification bodies such as the Track Foundation.
It said this is important to ensure the credibility of the TBB certificates.
The effort is expected to boost the development of the country's renewable energy industry, as well as support the country's energy transition aspirations to achieve the target of 70% mixed renewable energy capacity in electricity supply by 2050. – Bernama
