New contract win

RNS Number : 8240T

Camco International Ltd

13 December 2011

 



PRESS RELEASE

Camco signs assessment and monitoring contracts for energy efficiency projects with largest cement producer in China

 (London, Beijing, 13 December 2011)

Camco International Limited (Camco, AIM: CAO), Camco, a global developer of clean energy projects and solutions to reduce greenhouse gas emissions , has signed new contracts with Anhui Conch Cement Company Limited (Conch), the largest cement producer in China.  The contracts will see Camco provide assessment and monitoring services for 37 individual energy efficiency projects at cement production facilities owned by Conch.

For the assessment and monitoring services, Camco will receive an annual cash service fee payment up to 2020. Collectively these projects are designed to generate 29.5 million CERs during the period 2012 to 2020. 24 of the projects are operational, 16 of which have already been successfully approved and registered under the Clean Development Mechanism (CDM) with a total approved volume of 14.2 million credits.

For the remaining 13 projects, Camco will provide the carbon project development as well as assessment and monitoring services.

Conch projects use advanced high efficiency waste heat recovery technology  to capture heat from the cement making process and recycle it to produce power in onsite power plants, with a  total capacity of 718.8 MW displacing electricity that would previously have been taken from the local grid which is powered by fossil-fuels.

Camco and Conch first started working together in 2005, working on the Ningguo waste heat recovery project, the first in a series of energy efficiency projects at multiple Conch production facilities. The project used Japanese advanced high efficiency waste heat recovery technology, which had at that point never before been commercially financed in China. Since then the number of projects both companies work on together has expanded to 24 and now 37.

Fang Qunsheng, Executive Director Development Department of Conch Group commented: "We have a long history of working successfully with Camco to achieve carbon and energy savings at our facilities and are therefore pleased to be continuing our relationship. Conch and Camco both place environmental protection and energy efficiency as a top priority. By working closely with Camco we have been able to access the finance and expertise needed to put our ideas into practice and achieve significant energy savings across our portfolio of cement production facilities."

Yariv Cohen, President of Camco commented: "We are delighted to sign these contracts with Conch, a company with which we have built a strong working relationship over the last five years and which has shown great vision in working to reduce emissions. By working with Conch and leading Chinese companies, we continue to develop and monitor energy efficiency projects that have both a positive and long-lasting impact on the environment and produce an additional source of revenue for our clients and us. Camco has developed a total of 51 energy efficiency projects in China across industry sectors including cement, iron and steel."

Background

Cement Industry in China

In 2009, profits of the cement industry in China totalled RMB 40 billion, with over RMB 10 billion stemming from waste heat recovery and energy efficiency projects. The Chinese cement production in 2009 amounted to 1.65 billion tons; responsible for 5% of China's total energy consumption and 30% of China's total industrial granule emissions. According to the twelfth five year plan, granule emissions of the cement industry have to decrease by 50% and NOx emissions need to decrease 25% based on 2009 levels.

Energy efficiency in China

Chinese companies are increasingly looking to reduce their environmental impact following the publication of the country's 12th Five-year Plan in March 2011, which included a number of energy and emissions reduction targets totalling 16% by 2015. Camco is expanding its activities in industrial energy efficiency in China, where we see significant potential and growth and where we enhance our established relationships and our local team expertise. Camco has been providing carbon and energy services in China, drawing on the company's ability to bring together global expertise in energy efficiency with local execution familiar with the country's specific regulatory framework and culture.

-Ends-

Enquiries:

Camco	[phone]
Shirona Partem, Investor Relations Petra Ernst-Gutierrez, Marketing & Communications Manager
Singer Capital Markets (Camco Nominated   Adviser and Broker)	[phone]
Jonathan Marren
Citigate Dewe Rogerson Chris Gardner  / Malcolm Robertson	[phone]

Notes to editors:

About Camco

Camco International Limited (Camco, AIM: CAO) is a global developer of clean energy projects and solutions to reduce greenhouse gas emissions with operations in the US, the UK, China, Africa, Russia and SEA.

Camco has a 20-year track record in project development, technical delivery and policy development, working with local industry, multinational companies, governments and regulatory bodies.

The Carbon Project Development business has created one of the largest emission reductions portfolios and has structured ground breaking and innovative arrangements for the sale and delivery of emission reductions to compliance and voluntary buyers.

Camco's Clean Energy Project Development and Investment teams collaborate with industry, project developers, equipment providers and investor groups to create emissions-to-energy projects and maximise sustainable energy production across a range of industries; including agricultural methane, industrial energy efficiency, coal mine methane, municipal solid waste, biomass and landfill gas.

The Energy and Carbon Advisory teams provide strategic, commercial and technical expertise accrued over two decades to deliver low carbon energy and sustainable development solutions.

www.camcoglobal.com 

 

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