Business
Carbon sales contract signed
Carbon sales contract signed.
About this update from Invinity Energy Systems Plc
[{"type":"text","content":"\n Camco International Ltd\n30 November 2006\n\n\nNovember 30th 2006\n\n\n World's Largest Clean Energy Carbon Sales Contract Signed\n\n\nCamco International Limited ('Camco') is a leading player in the origination,\nco-development, placement and management of carbon credits under the Kyoto\nProtocol.\n\nCamco announces that it has successfully facilitated an Emission Reduction\nPurchase Agreement ('ERPA') for the commercialisation of carbon credits for two\nclean energy projects implemented by the Yangquan Coal Industry (Group) Company\nin Shanxi Province, People's Republic of China. These Clean Development\nMechanism (CDM) projects are expected to produce 17.8 m tonnes of carbon credits\nto the end of 2012, making this the largest clean energy carbon credit sales\ncontract to date under the Kyoto Protocol.\n\nThe transaction covers emission reductions generated by the capture and\nutilisation of methane that is currently released to the atmosphere from the\nworking mines of Yangquan Coal Industry (Group) Company. The captured methane\nwill be utilised to generate power and also as the primary furnace fuel of a new\nindustrial facility.\n\nCamco has assisted the project sponsor to realise the projects by identifying\nand developing the carbon opportunity, and placing the credits associated with\nthe projects. Camco has now commercialised 35m tonnes of its 100.3m tonnes\ncontracted portfolio.\n\nCamco International CEO, Tristan Fischer, said:\n\n'The commercialisation of the Yangquan projects represents an important\nmilestone for global carbon markets. This transaction, the largest of its kind\nto date, brings into the market emission reductions from projects which\naccelerate the transition of one of China's largest coal producers to cleaner\nenergy. Furthermore as a leading example of CDM project development in Shanxi\nProvince, the main coal producing region of China, the projects will promote\nincreased action on climate change and sustainable energy development.'\n\n\n- ENDS -\n\nFor further information please contact:\n\nCamco International Limited +44 (0) 20 7256 7979\nTristan Fischer, Chief Executive Officer\nScott McGregor, Chief Financial Officer\n\n\nPress\n\nGavin Anderson & Company +44 (0) 20 7554 1400\nKen Cronin\nKate Hill\nJanine Brewis\n\n\nAbout Camco:\n\nCamco is a leading player in the origination, co-de...