SAN JOSE, Calif. and SINGAPORE, Sept. 8, 2016 /PRNewswire/ -- APX, the global leader in environmental technology solutions and services, today officially announced the launch in Singapore for the global registry for TIGRsSM — Tradable Instruments for Global Renewables.
First of its kind in Asia, the registry was pilot tested by Apple and Sunseap in Singapore, in close collaboration with the Solar Energy Research Institute of Singapore (SERIS). The registry was built with the goal of allowing all corporates and suppliers in the renewable energy marketplace to utilize a proven standard and registry accounting system to manage their participation in the region's renewable energy sector. Participants are able to register for online accounts, register renewable assets and only after undergoing rigorous validation can begin to issue renewable energy credits, TIGRs. TIGRs can be issued only through a third-party local reporting entity who verifies all of the metered production data. Once TIGRs are issued, they can be transacted and ultimately retired for use in making corporate claims. TIGRS establish the highest quality renewable instrument required by companies that are keen to adopt renewable energy, but are operating in areas of the world that do not currently have policies for the voluntary market or robust tracking systems.
APX's core expertise lies in the development and implementation of renewable energy and carbon offset instruments and standards worldwide. This experience, coupled with the strong cooperation of market participants, has led to the launch of the registry as a best-in-class solution for issuing, tracking and retiring the environmental attributes associated with renewable energy production. "Apple and other corporates committed to 100 percent renewable energy are spurring development worldwide," said Lars Kvale, Director of Business Development for APX. "TIGRs are being named in power purchase agreements to represent each MWh of renewable energy production and are reliably issued in the Registry to support corporate claims."
Countries around the world and in Southeast Asia specifically, are aware that future emissions are on the rise due to increased manufacturing and electricity consumption from fossil fuels. With the successful conclusion of COP 21 Paris Climate Conference and global initiatives such as RE100, where influential businesses publicly pledge to power 100% of their operations by renewable energy, more governments and companies are stepping up with sustainable energy solutions to address climate change. In Singapore, the government has developed a strong national Climate Action Plan, which has a focus to encourage renewable energy adoption to achieve the national target of 350 MW of installed capacity by 2020.
"Singapore is experiencing a surge in demand for renewable energy from many major multinational companies operating in Singapore. We are therefore pleased to partner with APX to introduce its Asian registry for tradable instruments in renewable energy. This partnership is aligned with Singapore's interest to be a clean energy hub in Asia that facilitates cross-border trade in renewable energy," said Goh Chee Kiong, Executive Director of Cleantech at the Singapore Economic Development Board.
Visit http://tigrs.apx.com to see a list of participating companies. Also, sign up for a webinar that is convenient for your time zone.
For nearly 20 years, APX, Inc., based in the heart of California's Silicon Valley, has been the trusted infrastructure and services provider to the power and environmental markets. More than 2,000 companies globally rely on APX products and services for integrity in environmental markets, with more than 1 billion credits transacted to date across 13 renewable energy and carbon registry tracking platforms.
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