Energy Savings Certificates — known as white certificates — turn a verified, audited unit of saved energy into a tradable commodity. Cleanworld brokers across Europe's energy-efficiency obligation schemes, with a particular focus on Spain's fast-growing CAE market.
WHAT IS A CAE
A verified kilowatt-hour, made tradable
A Certificado de Ahorro Energético (CAE) represents one kilowatt-hour of final energy verifiably saved through an efficiency measure — building insulation, lighting upgrades, industrial process improvements, efficient heating. Spain's scheme went live in 2023 under Royal Decree 36/2023, creating a market where energy savings are certified, registered and traded.
HOW THE MARKET WORKS
From efficiency project to traded certificate
Obligated parties
Energy retailers (sujetos obligados) must deliver an annual energy-savings target — met by surrendering CAEs or paying into the national efficiency fund (FNEE).
Delegated subjects
Sujetos delegados finance and verify efficiency projects, accumulate the resulting CAEs, and sell the surplus to obligated parties.
Price formation
Value forms between the cost of the efficiency project and the cost of the alternative FNEE payment — the spread we broker.
Verification
Each certificate is backed by a registered, audited savings measure delivered to the scheme methodology.
Beyond Spain
Comparable white-certificate schemes operate across Europe — France's CEE (Certificats d'Économies d'Énergie), Italy's TEE (Titoli di Efficienza Energetica, the Certificati Bianchi) and others. We connect obligated parties, delegated subjects and project developers across these markets.
OUR SERVICES
Where we add value
Spot & term brokerage
Discreet matching of CAEs and other white certificates between obligated parties and delegated subjects.
Market intelligence
Independent read on obligation cycles, FNEE reference costs and price formation.
Counterparty access
A network spanning efficiency-project developers, delegated subjects and obligated suppliers.
Cross-market coverage
The same desk covers Energy Attribute Certificates and renewable fuels: one relationship, multiple mandates.
