ALLCOT registers the first LatAm TIGRs project with APX
ALLCOT has registered the first TIGRs project from Latin America certified by APX, a leading provider of infrastructure solutions to the environmental and energy markets. The project is a hydro plant situated on the Guatemalan highlands of San Marcos.
Tradable Instruments for Global Renewables or TIGRsâ„ are a new product for the voluntary renewable energy markets launched by APX last year, because companies had expressed the importance of utilizing renewable energy to meet their sustainability goals, and having market infrastructure to support these efforts globally. Different regulatory and energy policies at the national level create a need for a standardized instrument to track renewable energy production and ownership of the accompanying environmental benefits.
With the launch of TIGRs, companies now have an instrument to help them document their sustainability efforts while also providing transparency to the market, making it easier to find renewable energy projects and sellers.
ALLCOT is a firm believer in the development of a mix of tools to meet the climate challenges we face, as such, it feels that TIGRs provide an attractive and robust mechanism for businesses to demonstrate sustainability commitment and perform towards leading initiatives like the RE100.
The project
The San Rafael Hydroelectric power generator has a 4,2 MW capacity. Situated on the Guatemalan highlands of San Marcos, it is a run of river with no negative environmental impact.
In addition to providing renewable energy, the project owners are engaging with the local communities through various actions to improve the living standards of the locals at San Rafael de la Cuesta. Some of which being, the financing of Guatemala's first call center outside of the capital city, with a language school to teach locals English and train them for this industry, creating jobs in the rural area.
Further, the project owner has also financed 80% of the LED lamps in the town, built a water tank for Chayen village, built a new social area, and refurbished the access road for the people of Palo Quemado village.
The project has been operating for little over a year and currently 26930 TIGRs have been generated.
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