EcoSecurities Group plc
16 April 2008
EcoSecurities awarded contract by China Datang Corporation to purchase 6 million
CERs from Chinese wind farms
EcoSecurities, a leading company in the business of sourcing, developing and
trading carbon credits, announces that it has signed an Emission Reduction
Purchase Agreement (ERPA) with the China Datang Corporation, one of five major
state-owned power companies in China, to purchase over 6 million Clean
Development Mechanism (CDM) Certified Emission Reductions (CERs) from 13 Chinese
wind farms through to 2012.
The group of projects represents one of the largest single offerings of CERs for
wind power development under the Clean Development Mechanism (CDM). The ERPA was
signed at a ceremony chaired by Yin Li, Director for Strategic Planning for the
China Datang Group, on Tuesday 15th April 2008. Gareth Thomas, UK Minister for
Business Enterprise and Regulatory Reform, Zhai Ruoyu, President of China Datang
Group, and EcoSecurities' Chief Operating Officer (COO), Adrian Fernando, also
attended the signing ceremony.
The revenue generated by the sale of the CERs to EcoSecurities will make the
wind farms economically viable to construct, operate and maintain and will
promote the sustainability of wind farm development in China. The 13 wind farms,
which Datang aims to commission between July 2008 and July 2009, are planned to
contribute 618MW of installed capacity and supply an expected 1,366 GWh of
renewable power on an annual basis to China's otherwise carbon-intensive
electricity infrastructure.
Adrian Fernando, EcoSecurities' COO, commented, "We are delighted to have been
awarded a sizeable portion of such a significant tender which represents a large
addition to our growing portfolio of renewable energy projects in China."
-Ends-
For further information please contact:
EcoSecurities Group plc
James Thompson +44 (0) 1865 202 635
Jill Barker
Citigate Dewe Rogerson +44 (0) 20 7638 9571
Kevin Smith
Ged Brumby
Editor's Notes:
About EcoSecurities:
EcoSecurities is one of the world's leading companies in the business of
sourcing, developing and trading carbon credits. EcoSecurities structures and
guides greenhouse gas emission reduction projects through the project cycle,
working with both project developers and buyers of carbon credits.
EcoSecurities has experience with projects in the areas of renewable energy,
agriculture and urban waste management, industrial efficiency, and forestry.
With a network of offices and representatives in over 30 countries on five
continents, EcoSecurities has amassed one of the industry's largest and most
diversified portfolios of carbon projects.
Utilising its highly diversified portfolio, EcoSecurities is able to structure
carbon credit transactions to fit any buyers' needs, and has executed
transactions with both private and public sector buyers in Europe, North America
and Japan.
Working at the forefront of carbon market development, EcoSecurities has been
involved in the development of many of the global carbon market's most important
milestones, including developing the world's first CDM project to be registered
under the Kyoto Protocol. EcoSecurities Global Consulting Services has been at
the forefront of all significant policy and scientific developments in this
field. EcoSecurities has been voted 'Best Advisory Firm - Kyoto Project
Credits' over the last seven years by reader surveys conducted by Environmental
Finance magazine.
EcoSecurities Group plc is listed on the London Stock Exchange AIM (ticker ECO).
Additional information is available at www.ecosecurities.com.
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.