Platts launches Saudi Arabian I-RECs price assessments, adding to global coverage

Platts, part of S&P Global Commodity Insights, has launched Saudi Arabian international renewable energy certificate (I-REC) assessments, effective Jan. 27.

This follows a proposal(opens in a new tab) note on Dec. 16 and a decision(opens in a new tab) note on Dec. 30.

The assessments provide transparency to the growing solar I-REC market in Saudi Arabia and complement Platts' existing global I-REC assessments.

The I-REC assessments reflect spot deliveries of certificates, representing a minimum of 1 GWh, for prior-year and current-year vintages, rolling into the next vintages at the start of each calendar year.

For example, the vintages reflected in the assessments on Jan. 27, 2025, will be for 2024 and 2025 and will be reflected through Dec. 31, 2025. Vintages reflected in the assessments will roll to 2025 and 2026 on Jan. 1, 2026, and so on in subsequent years.

Each I-REC represents the environmental attributes of renewable energy and 1 MWh of electricity generated from renewable sources, as certified and recorded within the I-TRACK Foundation registry.

The Saudi Arabia solar I-RECs assessments are published in $/MWh with a 4:30 pm London timestamp and follow the London publishing schedule and holiday calendar.

The new assessments and symbols are as follows :

These assessments can be found on fixed pages ETA2213, CLE2213 and EVA2213, as well as in REC Daily.

Please send all feedback and comments to pricegroup@spglobal.com and global_renewables@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.