 |
| |
Largest Single Purchase Of Ewec's CECs | |
| Sumita Pawar |
Emirates Water and Electricity Company (Ewec) has partnered with Zero Two to purchase 7.3 million megawatt hours of Clean Energy Certificates (CECs), representing the largest single purchase of CECs to date.
The purchase was made through Ewec's auction process and is the first in the digital assets infrastructure sector.
 |
Under the agreement, Ewec will provide Zero Two with CECs to decarbonise its operations and support its sustainability objectives.
"Our clean energy transaction with Zero Two provides Ewec with a unique opportunity to further accelerate the country’s energy transition and decarbonisation of industries in line with the UAE Net Zero by 2050 strategic initiative," stated Ewec CEO Othman Al Ali after signing the purchase agreement with Zero Two CEO Ahmed Al Hameli.
"The first-of-its-kind transaction in the digital assets infrastructure sector, which also constitutes the largest ever single CECs purchase to date, demonstrates both Ewec’s and Zero Two’s commitment to supporting the nation’s sustainability and environmental agenda and is an example of the practical and tangible steps UAE entities can take to decarbonise their operations and address the pressing challenge of climate change," he added.
The transaction is part of the UAE's net zero by 2050 strategic initiative, and demonstrates the commitment of both companies to support the nation's sustainability and environmental agenda.
Zero Two is a leading digital assets infrastructure development company based in Abu Dhabi, which collaborates with entities in the energy and utilities sector, digital assets sector, and government institutions.