| Sourced From Bloomberg.com |
Nov. 16 (Bloomberg) — Electricite de France SA may buy as many as 4 million tons of carbon credits through 2020 from Latin American projects and trade them in Europe’s emissions program.
EDF Trading will purchase 1.5 million Certified Emission Reduction credits by the end of 2012 from four landfill gas projects in Latin America run by Bionersis, a Paris-based renewable energy company. EDF has the option to buy 4 million credits until 2020, according to a joint statement today.
Bionersis and the trading unit of EDF, Europe’s biggest power utility, said they will work together to produce CER credits under the United Nation’s Clean Development Mechanism.
“This transaction enhances our position as one of the leading buyers of CERs” in Latin America, said John Rittenhouse, chief executive officer for EDF Trading.
EDF Trading plans to use the CERs to comply with its obligation to curb carbon-dioxide emissions under the European Union’s emissions trading program. CO2 is one of the greenhouse gases blamed for climate change.
The 4 million CERs may be valued at more than 100 million euros ($150 million), Bionersis CEO Nicolas Heuze said by phone today. EDF Trading will pay a discount to market price, he said.
The CERs will be generated from methane recovery and flaring projects that reduce the amount of greenhouse gases released into the air, the joint statement said.
To contact the reporter on this story: Catherine Airlie at cairlie@bloomberg.net
By Catherine Airlie
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EDF to Buy Carbon Credits From Latin American Landfill Projects: | Sourced From Bloomberg.com |
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