Business
Camco awarded Carbon Finance
Camco awarded Carbon Finance.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n RNS Number : 1437W Camco International Ltd 23 July 2009 \n \n\nCamco awarded 'Carbon Finance Deal of the Year'\n\n\n23 July 2009 \n\nCamco International Limited ('Camco') has been awarded 'Carbon Finance Deal of the Year' by Environmental Finance for its deal with Standard Bank, which involved a structured sale of a portfolio of 5.8 million certified emission reductions (CERs) to leading international compliance buyers. As part of the transaction Camco received an upfront, non-recourse cash payment of €15 million. The structuring of the portfolio was specifically designed to meet the needs of compliance buyers.\n\nYariv Cohen, Chief Carbon Officer for Camco, said: 'We are delighted that this innovative deal has been recognized as Deal of the Year. The unique structure gave the buyers opportunity to access Camco high quality portfolio whilst ensuring maximum value for Camco's project partners. We are pleased that the close collaboration with the team at Standard Bank enabled us to address all clients' needs and close the transaction in a record time.'\n\nEnvironmental Finance editor Mark Nicholls said: 'It is clear that environmental markets have been far from immune from the financial crisis, and several of the landmark deals we have given awards to this year have been structured to help address the new market realities faced by companies in the sector'.\n\nThe awards were open to transactions that had closed in the 12 months to June 2009, nominations were collected and the market was polled to draw up a short-list of deals. This short-list was presented to an external judging panel, before the winners selected. \n\nEnquiries:\n\nFor more information please contact:\n\nCamco International +44 (0)20 7121 6100\nJeff Kenna, Chief Executive Officer\nScott McGregor, Chief Financial Officer\n\nKreab Gavin Anderson +44 (0)20 7554 1400\nKate Hill\nMichaela Wood \n\nNotes to editors:\n\nAbout Camco\n\nCamco an international leader in identifying and implementing s...