TFS Energy brokers CER deal
Scottish and Southern Energy Plc (“SSE”), through their subsidiary, SSE Energy Supply Ltd., and GD Power Development Co. Ltd (a subsidiary of China Guodian Corporation, one of China’s major energy companies) have finalised the first of four agreements to support the development of four new wind farms in northeast China. SSE Energy Supply Ltd will purchase approximately two million Certified Emissions Reductions (CERs) over a period of five years from the start of 2008.
Each of the four wind farms is expected to have an installed capacity of 49.5MW and will displace carbon emissions from coal-fired power stations in the region, leading to around two million tonnes of carbon dioxide being avoided. The construction of the first of the wind farms, GD Xingcheng Haibin, is already underway, and the last is expected to be commissioned during 2008.
Each of the four wind farms is expected to have an installed capacity of 49.5MW and will displace carbon emissions from coal-fired power stations in the region, leading to around two million tonnes of carbon dioxide being avoided. The construction of the first of the wind farms, GD Xingcheng Haibin, is already underway, and the last is expected to be commissioned during 2008.
TFS is delighted to have introduced and successfully negotiated the contracts for the CERs between two of the leading power companies in China and the U.K.
TFS has worked hard to establish itself as the leading CER broker in China. We are pleased to announce this deal, which brings together two strong companies and is the culmination of a great deal of hard work on all sides. Although this is only one of many closed and current deals, it showcases the quality of projects and transactions we aim to bring to market.
TFS opened an office in Beijing earlier this year, and sees China as a prime centre for CDM activity. For more information please contact us at emissions@tfsbrokers.com or at our TFS Headquarters in London at +44 207 198 1600 to be directed to your relevant local contact.