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(Source: Datamonitor)trackingEssent Trading, an asset-backed merchant energy trading firm, has transferred the first of a series of certified emissions reductions to the Austrian government. The carbon credits, which are part of a package of 10 projects, will be used by the Austrian government to support the country’s commitment under the Kyoto Protocol.
The project bundle includes wind farms, small-scale biomass-fired plants, as well as combined heat and power plants using biomass as feedstock. The projects are located in China, Brazil and India.
The company has said that three out of the 10 projects under the package are currently seeking Gold Standard status. The Gold Standard is a quality label for clean development mechanism (CDM), joint implementation (JI) and voluntary offset projects using renewable energy and energy efficiency technologies.
Essent Trading and Kommunalkredit Public Consulting have signed an emission reduction purchase agreement for the sale and purchase of over 800,000 certified emissions reductions (CERs) from this renewable energy project bundle in March 2009.
Alexandra Amerstorfer, executive director of the Austrian JI/CDM program, said: “We are happy to be able to purchase a large renewable energy project bundle from Essent Trading. It is a well diversified portfolio in terms of renewable energy technologies and host countries. Furthermore, we appreciate that the portfolio partly consists of Gold Standard projects.”
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