Southeast Asia Hydroelectric Market Expected to Grow
Facility in South Sulawesi, Indonesia to Start Generating I-RECs in 2025
A facility located in South Sulawesi, Indonesia is already operational and is expected to begin generating International Renewable Energy Certificates (I-RECs) during the first half of 2025. This development comes amidst the growing Southeast Asia hydroelectric market, which is projected to expand from 70 gigawatts in 2024 to 89 gigawatts by 2029, at a compound annual growth rate (CAGR) of 4.8%.
Calgary, Alberta–(Newsfile Corp. – December 18, 2024) – DevvStream Corp. (NASDAQ: DEVS) (“DevvStream” or the “Company”), a leading carbon credit project co-development and generation firm specializing in technology-based solutions, today announced an agreement (the “Agreement”) transferring ownership of all renewable and carbon assets generated by the PT.Siteba Energy Hydroelectric Power facility (the “Facility”) to DevvStream in the form of I-RECs. DevvStream will manage the I-REC certification process and will receive a significant portion of the net value of I-RECs created from the Facility.
How Will This Impact Me?
This development may have a positive impact on individuals by potentially leading to a cleaner and more sustainable energy future. As more renewable energy sources such as hydroelectric power are utilized and certified through mechanisms like I-RECs, the overall environmental footprint of energy production can be reduced, contributing to a healthier planet for current and future generations.
How Will This Impact the World?
The growth of the Southeast Asia hydroelectric market and the increasing generation of I-RECs from facilities like the one in South Sulawesi, Indonesia, can have far-reaching effects on the global energy landscape. By promoting the adoption of renewable energy technologies and incentivizing their certification through international mechanisms, emissions reductions and climate change mitigation efforts can be bolstered on a larger scale.
Conclusion
In conclusion, the operationalization of the facility in South Sulawesi and the generation of I-RECs under the agreement with DevvStream mark significant steps towards advancing sustainable energy development in Southeast Asia and beyond. As the hydroelectric market expands and renewable energy assets are certified, the potential for a greener and more resilient energy sector becomes increasingly tangible, offering hope for a more sustainable future.
