A transaction between Renewable Energy for Peace Credit (P-REC), Energy Peace Partners (EPP), American Multinational Microsoft, and the solar off-grid provider Nuru was signed at Goma. The transaction intends to set up street lamps, which are powered by solar off-grids in Goma City in DRC (Democratic Republic of Congo).
3Degrees, a specialist in transport decarbonization, renewable energy, and climate solutions, facilitated this transaction. The part of the deal also includes Microsoft purchasing Renewable Energy for Peace Credit, which Energy Peace Partners issued via a new solar power installation in the DRC (Democratic Republic of Congo), which will be used to fund street lamp installation in the Goma district.
As of now, Goma district power is supplied by a 1.3MWp solar energy plant, which was established on February 4, 2020, by Nuru. The output of this solar power plant is distributed to the Goma households directly through a mini-grid. Nuru also set up the mini-grid, and it is furnished with a transmission line and transformers.
Ndosho lampposts installation
P-REC and EPP said that P-RECs refers to International Renewable Energy Certificates (I-RECs) accompanied with an extra Energy Peace Partners (EPP) issuer label that certifies the combined advantages related to the new production of renewable power.
EPP and P-REC also said that such projects, such as the street lamps installation in Goma, are carried out in nations that are characterized by low levels of electrifications, high risk of conflicts, limited access to renewables funds, and high vulnerability to climate change.
The Nuru’s agreement states that more finances collected from P-RECs’ sales should be used to support or start a project that brings more economic and social advantages to that particular community or society. EPP said that Microsoft became the first company to accomplish a P-REC transaction.
EPP said that street lamps installation in Ndosho (a region that neighbours Goma) by Nuru was made possible because Microsoft purchased the P-REC. Ndosho street lamps installation is a community-based project that is designed in coordination with local stakeholders.
Ndosho area did not have an electricity grid infrastructure before, and this project has benefited Ndosho community in many ways. For instance, general security has improved as well as neighbourhood security. Also, many businesses are operating even later at night, which was not possible before the lamps were installed. The street lamps have reduced the reliance on diesel generators, which highly pollutes the environment, and costly.https://minernews.io/