Business
Camco registers first project
Camco registers first project.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n RNS Number : 4932T Camco International Ltd 08 June 2009 \n \nCAMCO REGISTERS ITS FIRST PROJECT WITH THE GOLD STANDARD\n\n8 June 2009 - Camco Group (Camco) is pleased to announce that it has achieved registration of its first Gold Standard project, which is only the second Gold Standard Verified Emission Reduction project to ever be registered in China. \n\nThe wind power project is expected to generate 120,000 tonnes of greenhouse gas (GHG) emission reductions per year, and the carbon credits generated from 2008's emissions reductions have already been sold to Aviva plc.\n\nThe Gold Standard Foundation is a non-profit organization which registers projects that reduce GHG emissions in ways that contribute to sustainable development and certifies their carbon credits for sale on both compliance and voluntary offset markets. \n\nJeff Kenna, Camco's Chief Executive Officer, said: 'Camco is delighted to see that its first Gold Standard project has been registered. We have been working with the Foundation for many years, and look forward to bringing several additional Clean Development Mechanism and Verified Emission Reduction projects through the Gold Standard process'.\n\nThe registered project is Bailingmiao Phase 1, a 50 megawatt wind power project located in Inner Mongolia, and owned by Honiton Energy. Camco is currently cooperating with Honiton Energy to complete the carbon asset development on three large wind energy projects in China.\n \nHoniton Energy is China's fastest-growing foreign owned alternative energy provider, and currently owns the rights to five extensive sites for wind power projects in China's Inner Mongolia region. With the potential to produce up to several hundred megawatts of wind power each, the projects could power millions of homes, and potentially reduce emissions by several million tonnes of carbon dioxide over their lifetime. \n\nThe emission reductions generated from the Bailingmiao Phase 1 project in 2008 have been sold to Aviva plc, the world's fifth lar...