International RECs (I-RECs)

I-REC is a global standard which provides a globally recognized platform to clean energy Project Developers to trade Renewable Energy Certificates. I-REC platform is regulated by a International REC standard foundation based in Netherlands.
 
I-RECs are traded through a global registry and exchange and when an entity  buys or redeems (retires) I-RECs, the concerned credits are cancelled in the registry to ensure that IRECs are only transacted once and there is no double counting.
 
Globally out of 22,284 MW registered under I-REC Scheme, 7,074 MW is from wind power projects. In India, out of 1,102 MW registered under I-REC Scheme, 744 MW belongs to solar projects and 50 MW belongs to Wind projects.