GDF Suez Secures Two Carbon Trading Deals Relating to Chinese Hydro Projects
French energy major GDF Suez has secured two carbon trading deals relating to hydro projects in China, which are expected to be operational by the end of 2009.
The contracts cover a total estimated volume of about 1.6 million certified emissions reduction (CERs) during the 2009-2012 contractual period. The CERs will be generated through one 48MW hydro project in northwest China, and one 99MW hydro project in southeast China.
The transaction was formalized with emission right purchase agreements (ERPAs) signed between GDF Suez, and two subsidiaries of the China Guodian Group.
The entry into these ERPAs underlines GDF Suez’s strategy of contributing to CO2 emission-reduction activities in developing countries through strategic partnerships with major local companies in the field of clean development mechanism projects.