Explore/Key Announcement/Announcement Details
ProClime signed a landmark MoU with the Independent Power Producers' Association, Nepal (IPPAN) on January 31st in Kathmandu, to take 2,000 MWs of Nepal's hydropower to the global IREC market. This collaboration aims to foster sustainable growth through the effective management and monetization of International Renewable Energy Certificates (IRECs) generated from Nepal's hydropower projects.
Under this partnership, ProClime will act as the preferred Carbon Portfolio Manager (CPM) for IPPAN members who choose to utilize this service. ProClime will provide end-to-end IREC management services, encompassing feasibility assessments, registration, certification, issuance, trading, and monetization.
IPPAN will serve as the primary point of contact between ProClime and its members, facilitating the onboarding process and communication related to project assessments.
"This partnership marks a significant step forward in empowering Nepal's hydropower sector to access global IREC markets and contribute to the country's sustainable energy development," said Kavin Kumar Kandasamy, CEO of ProClime.
"By leveraging ProClime's expertise in IREC management, IPPAN members can enhance their environmental credentials, improve their financial performance, and contribute meaningfully to Nepal's renewable energy goals."
This collaboration between ProClime and IPPAN seeks to establish a robust framework that empowers IPPAN members to access new revenue streams through the sale of IRECs in global markets. This will enable them to gain a competitive advantage while contributing to Nepal's sustainable energy development.
ProClime eagerly anticipates a successful partnership with IPPAN and is dedicated to providing exceptional service and support to its members.