Asian financial institutions sign MoU supporting IECRE conformity assessment

Growing investment in renewables requires industry to ensure its equipment and systems are safe, reliable and durable

By Antoinette Price

IECRE certification will de-risk the investments of financial institutions in large renewable energy projects at insignificant cost”, according to Sandy Butterfield, Chair of IECRE, who talked about the benefits of the conformity assessment system at a promotional event held during the China Wind Power 2018 event. “Financial investors benefit the most from IECRE certification, yet of all the state holders, they are probably the least aware of the benefits”, Butterfield added.

Sandy Butterfield, Chair, IECRE at China Wind Power 2018 event Sandy Butterfield, Chair IECRE, speaking at China Wind Power 2018 event

Huang Yutong from China General Certification Center (CGC) also presented, explaining why IECRE was established, its role and the value of certification, which guarantees consistency with consensus-based IEC International Standards.

Attended by 13 financial institutions, including banks, insurance and leasing companies, the session enabled constructive discussions and for attendees to express their requirements for large-scale RE investments.

Financial institutions recognize that harmonized standards and certification contribute to a more transparent and efficient certification environment for all stakeholders. Following the presentations, several Chinese financial institutions and two certification organizations (one Chinese and one American) signed a Memorandum of Understanding (MoU) in support of the development of IECRE System and in recognition of IECRE certificates and reports.

The aim of the MoU is to outline areas of cooperation among the parties, such as communication and supporting development of IECRE system, in order to build collaboration among IECRE, certification bodies and financial institutions and to consider endorsing IECRE certificates and reports as a proof of qualification.

About IECRE

IECRE, the IEC System for Certification to Standards Relating to Equipment for Use in Renewable Energy Applications, was created in recognition that the ever-increasing demand for electricity and the need to address the specific requirements of the RE sector. The System aims to facilitate international trade in equipment and services for use in RE in the marine, solar PV and wind energy sectors, while maintaining the required level of safety. It will cover products, services and personnel, to provide testing, inspection and certification.

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Sandy Butterfield, Chair, IECRE at China Wind Power 2018 event Sandy Butterfield, Chair IECRE
Financial institutions attendees at IECRE event in China Financial institutions attend IECRE promotion event during China Wind Power 2018 event