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Itaipu and CCEE Launch New I-REC Auction with Minimum Price of R$ 0.78 per Certificate, Expanding the Renewable Energy Market in Brazil. The Initiative Reinforces Corporate Decarbonization and Projects Growth from 73 Million to 90 Million Certificates by 2026
Itaipu Binacional and the Electric Energy Commercialization Chamber (CCEE) have commenced the receipt of proposals for the first electronic auction of I-RECs backed by the generation of the hydropower plant. According to a report published by CNN Brazil on February 23, proposals can be submitted until 6 PM on Wednesday (25), through the Brazilian Platform for Renewable Energy Certification of CCEE.
The notice establishes a minimum price of R$ 0.78 per I-REC, with each certificate equivalent to one megawatt-hour (MWh) of produced energy. The sales modality will be by closed offer per batch, with a minimum of 40 thousand units per batch. The classification will follow the highest unit price offered per I-REC, also respecting the chronological order of the proposals.
The minimum value already includes the costs of issuance, registration, and retirement of the certificates. Retirement can be immediate or deferred, allowing for the later commercialization of the asset. The basis of the I-RECs offered in this auction will be the energy produced by Itaipu in 2025. The released expectation is that, with the plant entering the segment, the volume of certificates traded will grow from 73 million last year to 90 million in 2026.
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How the I-REC Auction and Renewable Energy Certification Work
The auction structured by Itaipu and CCEE takes place in an electronic environment, ensuring traceability and transparency in the offers. The sales by batch, with a minimum of 40 thousand certificates, directs the competition mainly to medium and large companies, traders, and institutional investors.
The I-REC is an international certificate that proves that a certain amount of consumed electrical energy was generated from a renewable source. In the case of Itaipu, this refers to hydropower, recognized as a clean and low-carbon emission source throughout its life cycle.
Companies that acquire I-RECs can use them to demonstrate renewable energy consumption in sustainability reports and emissions inventories. This mechanism directly contributes to corporate decarbonization goals and meeting environmental criteria required by investors and business partners.
The governance of the process is ensured by CCEE, the institution responsible for the accounting and settlement of operations in the Brazilian electricity market. Certification through the official platform enhances the credibility of the environmental asset and reduces risks of double counting or inconsistencies.
Itaipu’s Entry Strengthens the Renewable Energy Market and Corporate Decarbonization
Itaipu is recognized as the largest renewable energy generating plant in Latin America. Its binational operation, between Brazil and Paraguay, has always been associated with large-scale low-carbon electricity production.
By formally entering the I-REC market through auction, the plant also acts as a structured supplier of environmental assets. This adds value to the renewable energy produced and creates a new source of revenue linked to certification.
In a statement to the press, André Pepitone, the executive financial director of Itaipu Binacional, stated that the issuance of I-RECs in partnership with CCEE reaffirms the commitment to sustainability, transparency, and modernization of the Brazilian electric sector. According to him, this is a consistent step in the international recognition of the clean energy produced by the plant.
This recognition is strategic in a global context marked by carbon neutrality goals. Companies seeking to reduce their carbon footprint find in I-RECs a formal instrument to demonstrate the use of renewable energy and reinforce decarbonization commitments.
CCEE Expands Governance and Consolidates a Secure Environment for the Auction
The Electric Energy Commercialization Chamber plays a central role in organizing the auction and managing the Brazilian Platform for Renewable Energy Certification. The institution is responsible for ensuring that transactions occur within recognized technical and regulatory standards.
The CCEE Origin seal guarantees the traceability of the certificates, ensuring that each I-REC is linked to the energy effectively generated from renewable sources. This structure is fundamental for the environmental asset market to be perceived as reliable by national and international investors.
Alexandre Ramos, president of the CCEE Board of Directors, stated that the entry of the largest renewable energy generating plant in Latin America into the I-REC segment is a structural milestone. According to him, the union between the strategic relevance of Itaipu and the governance ensured by CCEE strengthens the credibility of the emerging sector in Brazil and abroad.
This solid institutional environment contributes to increasing market liquidity and attracting new participants, especially companies with formalized ESG commitments.
Growth from 73 Million to 90 Million Certificates by 2026
The projected growth of the I-REC market, from 73 million last year to 90 million in 2026, indicates a consistent expansion of the demand for certified renewable energy. This increase reflects the growing search for formal mechanisms to prove clean consumption.
In Brazil, the electrical matrix is already predominantly renewable, with a strong presence of hydropower, wind, and solar sources. Nonetheless, the certificate has become necessary for companies to document the origin of the electricity used in their operations.
The Itaipu auction expands the supply of certificates backed by large-scale hydropower generation. This can contribute to greater price stability and more predictability for buyers planning medium and long-term decarbonization strategies.
The minimum price of R$ 0.78 per I-REC serves as an initial reference for the market. As the competition will be defined by the highest unit price offered, the result of the auction will also act as a signal of demand and perception of the environmental asset’s value.
Impact of the Renewable Energy Auction on Investors and Exporting Companies
The advancement of the I-REC market has a direct impact on conscious investors and companies involved in global value chains. International funds use environmental, social, and governance criteria to assess risks and opportunities.
By acquiring certificates linked to Itaipu, companies reinforce the credibility of their decarbonization strategies. This can positively influence risk assessments, access to credit, and market perception.
For exporting companies, especially those operating in markets with strict environmental requirements, proving the use of renewable energy is a competitive differential. The auction structured by Itaipu and CCEE offers a formal and internationally recognized instrument for this purpose.
Additionally, the possibility of deferred retirement of certificates increases strategic flexibility, allowing companies to plan the ideal moment to utilize the asset in their reports and emissions inventories.
New Benchmark for Certified Renewable Energy in Brazil
The electronic auction of I-RECs promoted by Itaipu and CCEE represents more than a one-time sale operation. It is a strategic movement that integrates the physical generation of renewable energy with globally recognized financial and environmental instruments.
With a minimum price set at R$ 0.78 per unit, batches of at least 40 thousand certificates, and based on generation in 2025, the initiative establishes clear parameters for the market. The expected growth from 73 million to 90 million certificates by 2026 reinforces the expansion potential of the segment.
By uniting the institutional strength of Itaipu with the governance of CCEE, Brazil consolidates a more robust environment for the commercialization of environmental assets. The outcome is expected to strengthen the corporate decarbonization agenda, increase investor confidence, and position certified renewable energy as a strategic pillar of the national energy transition.
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