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TrustPower carbon sale  

European company Electrabel has signed an Emission Reduction Purchase Agreement with TrustPower to buy carbon credits from one of its wind farms.

Electrabel will purchase 228,000 carbon credits from TrustPower’s Tararua II Wind Farm over the period 2008-12.

The Tararua II Wind Farm is an eligible project under the Joint Implementation mechanism of the Kyoto Protocol yielding Emission Reduction Units.

Electrabel will use the Emission Reduction Units to cover its commitments under the European emission trading scheme.

TrustPower trading manager Therese Thorn says the sale of Emission Reduction Units to Electrabel is a “great example of how businesses in other countries can effectively help pay for the cost of New Zealand investments in clean, green, sustainable energy and other projects”.

She says TrustPower is looking to place a further allocation of its remaining 1.1 million Assigned Amount Units produced from its renewable generation portfolio into the market soon.

TrustPower did not disclose the sale price. Assuming a carbon price near current EU trading levels of $30 a tonne, TrustPower would have netted around $7 million from the deal.

NewsRoom.co.nz Agency Story

Additional material has been added by NBR staff.

The National Business Review

20 November 2007

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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