The BCX inaugural Hydro Renewable Energy Certificates (RECs) auction is aimed at facilitating a price discovery for unbundled RECs in Malaysia, while aligning with the national agenda to achieve 70% renewable energy in installed capacity by 2050.​

​By providing a reference price for the market, BCX hopes to encourage participation from a wider range of buyers and sellers, for a transparent and accessible RECs market in the country.​

​This auction marks a significant step towards Bursa Malaysia's vision of establishing BCX as a regional shariah-compliant multi-environmental product exchange.

Auction Details

Join us for our inaugural auction. The salient details are as below:

Date: 25 June 2024
Time: Malaysia time (MYT)
Bidding Window: 1st Session - 10.00am to 12.00pm
2nd Session - 2.00pm to 4.00pm
Contract Types: Hydroelectric Renewable Energy Certificate (HRECv24)
Standard: I-REC for Electricity
Primary Fuel: Hydro-electric
Technology: TC310 Dam
Fuel Code: ES300 Hydro-electric.
Minimum Volume: 1000 RECs (With minimum incremental bid of 1 REC)
Onboarding: Entity must first be onboarded as an Approved Participant of BCX
Bidding Process: Full pre-funding of amount required to cover the bid and transaction costs.
Sealed bids will be submitted by bidders via BCX’s auction system.
Allocation: Allocation ranking will be prioritised by price-volume-time basis.
All participants will pay the same clearing price, once allocation is completed.
Terms and conditions apply.
Project
Device Name: Murum Hydro Power Generation
Project Type: Hydroelectric Dam
Contract Type: Hydroelectric Renewable Energy Certificate (HRECv24)
Vintage: 2024
Location: Malaysia
Reserve Price MYR/ Contract: RM 4.50

The Murum Hydroelectric Plant (HEP), completed in late 2014, stands as the second-largest hydroelectric plant in Sarawak. With an installed capacity of 944MW, the project is entirely state-owned and developed by Sarawak Energy, representing the first large-scale sustainable energy project developed entirely by and on behalf of the government and people of Sarawak, Murum embodies the Sarawak government's vision, as articulated by Sarawak Energy:

"To achieve sustainable growth and prosperity for Sarawak by meeting the region's need for reliable, renewable energy.”

The Murum project prioritised minimising human impact. Extensive research was conducted as early as in the 1990s on the affected community’s resettlement needs. Actively engaging in the decision-making process, families affected actively participated in all aspects of the resettlement process and facilities, including selecting Tegulang and Metalun as their resettlement site, as well as contributing to the design of their new longhouses, among others.

Notably, the dam construction at Murum was executed with utmost respect for the community's desire to preserve Batu Tungun, a sacred and culturally significant site for the Penan community. The Dam crest was deliberately redesigned, after extensive research and consultation, to completely preserve the site, and to ensure continued access for the community to perform rituals at Batu Tungun.

Sarawak Energy's commitment extended beyond resettlement, but also addresses broader societal challenges, such as limited literacy and the lack of schools among others. Recognising the importance of education and economic empowerment, Sarawak Energy collaborated with the Society for the Advancement of Women and the Family Sarawak to launch the Murum Penan Literacy Programme in 2012, equipping over 340 individuals with essential literacy skills. Concurrently, in cooperation with the Ministry of Education, two primary schools were also established near resettlement areas. Sarawak Energy also initiated a Penan handicraft development program, preserving cultural heritage while providing economic opportunities for artisans.

The design and construction of Murum HEP was carried out in full accordance with the recommendations of the Social and Environmental Impact Assessment (SEIA) Study. As a result of Sarawak Energy’s strict adherence to these recommendations, and their commitment to do our utmost to minimise environmental impact, special initiatives were undertaken that are not normally found in large hydropower projects:


Extract from Sarawak Energy Berhad
Register Your Interest
If you would like to be a part of our inaugural Hydro RECs auction, please register your company’s interest with us by completing the form below and we will be in touch as soon as possible.