By Alena Mae S. Flores Posted on Jan. 09, 2013 at 12:01am
A renewable energy developer is seeking carbon credits for a planned 33.4-megawatt wind power project in Oriental Mindoro province.
PhilCarbon Inc. tapped Carbonergy Business Consultancy Services, a renewable energy and carbon consulting company, to trade the carbon credits of the Bulalacao wind project.
PhilCarbon is set to begin construction of the P3.4-billion Bulalacao wind project in September 2014 while completion is targeted in January 2016.
The ‘RE2Grid Programme of Activities’ was designed by Carbonergy and Swedish partner Cornland International to allow companies in developing countries such as the Philippines to trade carbon credits with the European market beyond 2012.
The wind project is estimated to generate 73.146 gigawatt-hours of wind energy and abate about 54,000 tons of greenhouse gases annually.
“The Philippines has many projects that could be included in the RE2Grid PoA, especially wind and hydro but also some solar PV projects, as evidenced by the large number of applications for pre-development service contracts sent to the Department of Energy,” Carbonergy chief executive Peter Pembleton said.
Pembleton said developers of renewable energy projects should tap Carbonergy for inclusion in the RE2Grid PoA to benefit from additional cash inflows from the sale of carbon credits.
He said the Philippines, as a developing country, was excluded from trading carbon credits generated from projects registered after 2012 to the European market. Only those carbon credits from least developed countries will continue to be accepted.
Pembleton, however, said renewable energy projects in the Philippines can still trade their carbon credits by registering with Carbonergy’s ‘RE2Grid PoA.’ source
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