DevvStream Corp announced an agreement  transferring the ownership of all renewable and carbon assets generated by the Sogod Energy Inc. Medellin Solar Power facility to DevvStream in the form of international renewable energy certificates ("I-RECs"). 

The 730-megawatt-peak ("MWp") Facility has been approved by the municipality of Medellin, Cebu as part of its "Medellin 2030" smart city master development plan and will be developed and implemented in three phases by Sogod Energy ("Sogod"), a renewable energy company based in the Philippines. Once completed, the total annual energy production capacity of the Facility will be an estimated 1,219,615 megawatt-hours ("MWh"), allowing the generation of over 1.2 million I-RECs per year.

Entry into the I-REC market expands the Company into global energy transition markets and represents a new advancement in the Project Development category of DevvStream's three-tiered corporate strategy. The first phase of the Facility's development is anticipated to be complete within 6 months, with the first I-RECs being produced approximately a month thereafter.