First dREC™ on OpenSea with Allinfra Climate in Vietnam
In November 2022, we announced our partnership with Asia Clean Capital Vietnam (ACCV) — Vietnam’s leading solar developer for the high-end industrial and commercial market. We have since been working as a technology provider for ACCV, connecting our sustainability data management software, Allinfra Climate, into existing and new solar projects, including a rooftop solar project on SC VivoCity shopping mall in Ho Chi Minh City.
We are excited to announce that this asset has just issued its first digital renewable energy certificate (dREC™) with Allinfra Climate’s technology. Using data collected from source via Allinfra Climate, the dREC was created directly using Allinfra Climate’s dapp — a decentralised application that allows organisations to easily create and transfer digital environmental financial products without intermediaries.
The dREC was listed for sale on Opensea — the world’s first and largest web3 marketplace for NFTs. Buyers can purchase dRECs from Opensea and simply login to the Allinfra Climate dapp with their favorite Ethereum wallet to view its audit trail or retire the product.
Upon a certain time period passing or generation milestone, e.g. 6 months, a series (or “vintage”) of dRECs is minted based on the generation data for that particular period. Each vintage of dRECs is fungible with dRECs of the same vintage, but not with dRECs of other vintages.
Being able to tie the underlying data from one or more dRECs to certain time periods is important for several reasons:
- Enhanced provenance — know where and when your product was produced;
- Granular offsetting of energy usage — match energy usage with dRECs from specific vintages (quarterly, monthly, weekly, daily, even hourly matching);
- Reduced risk of double counting.
Are you an energy company looking for a more efficient way to collect, record and monetise production data? Are you looking to meet your climate goals with the most advanced climate product in the market? We can help. Get in touch with our team for a demo of Allinfra Climate.
