Tuesday, July 24, 2007

Pacific Hydro to sell carbon credits from Chile plant

...Pacific Hydro, which is owned by the pension funds manager Industry Funds Management, and a partner registered the 155-megawatt La Higuera project with a Dutch authority, allowing the sale of credits in the EU once production starts by the end of 2008, the Melbourne-based company said Monday.

...The project is expected to generate about 430,000 carbon credits, or certified emission reductions, each year for sale, which may be sold either through individual contracts or through Pacific Hydro's portfolio of credits, said Andrew Richards, a company spokesman.

At $30 per CER that's a nifty $12.9 million, cash money. Per year.

From the IHT

PacificHydro's press release is candid:
$1 billion investment in Chile driven by carbon trading