Bursa Malaysia Berhad (“
Bursa Malaysia”) issued a media release on 18 Apil 2024 announcing that its wholly-owned subsidiary, Bursa Carbon Exchange (“
BCX”)
1 will be hosting its inaugural auction of renewable energy certificates (“
RECs”) on 25 June 2024.
The RECs is a new product offering by BCX and is supplied by Sarawak Energy Berhad from its Murum hydropower plant. The RECs will be issued under the I-REC Standard, which according to the media release, is a globally recognised standard body.
According to Datuk Muhamad Umar Swift, the Chief Executive Officer of Bursa Malaysia, “
RECs will support Malaysia’s energy transition roadmap (NETR) which targets to substantially increase the country’s renewable energy capacity.”
2
A briefing on the inaugural RECs auction will be held on 23 April 2024. Those interested can register at
https://bcx.bursamalaysia.com/web/auctiondetails or call BCX at +603 2034 7788.
The media release also stated that that BCX platform will be ready for continuous trading which includes facilitating of off-market transactions for RECs by end-September 2024.
Bursa Malaysia’s media release of 18 April 2024 can be accessed
here.
Alert by Tham Zhi Jun (Associate) of the Corporate Practice of Skrine.