Eco (atlantic) Regulatory News (ECO)

16 Apr 2008 07:00

EcoSecurities Group plc16 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 andtrading carbon credits, announces that it has signed an Emission ReductionPurchase Agreement (ERPA) with the China Datang Corporation, one of five majorstate-owned power companies in China, to purchase over 6 million CleanDevelopment Mechanism (CDM) Certified Emission Reductions (CERs) from 13 Chinesewind farms through to 2012. The group of projects represents one of the largest single offerings of CERs forwind power development under the Clean Development Mechanism (CDM). The ERPA wassigned at a ceremony chaired by Yin Li, Director for Strategic Planning for theChina Datang Group, on Tuesday 15th April 2008. Gareth Thomas, UK Minister forBusiness Enterprise and Regulatory Reform, Zhai Ruoyu, President of China DatangGroup, and EcoSecurities' Chief Operating Officer (COO), Adrian Fernando, alsoattended the signing ceremony. The revenue generated by the sale of the CERs to EcoSecurities will make thewind farms economically viable to construct, operate and maintain and willpromote 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 tocontribute 618MW of installed capacity and supply an expected 1,366 GWh ofrenewable power on an annual basis to China's otherwise carbon-intensiveelectricity infrastructure. Adrian Fernando, EcoSecurities' COO, commented, "We are delighted to have beenawarded a sizeable portion of such a significant tender which represents a largeaddition 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 635Jill Barker Citigate Dewe Rogerson +44 (0) 20 7638 9571Kevin SmithGed Brumby Editor's Notes: About EcoSecurities: EcoSecurities is one of the world's leading companies in the business ofsourcing, developing and trading carbon credits. EcoSecurities structures andguides 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 fivecontinents, EcoSecurities has amassed one of the industry's largest and mostdiversified portfolios of carbon projects. Utilising its highly diversified portfolio, EcoSecurities is able to structurecarbon credit transactions to fit any buyers' needs, and has executedtransactions with both private and public sector buyers in Europe, North Americaand Japan. Working at the forefront of carbon market development, EcoSecurities has beeninvolved in the development of many of the global carbon market's most importantmilestones, including developing the world's first CDM project to be registeredunder the Kyoto Protocol. EcoSecurities Global Consulting Services has been atthe forefront of all significant policy and scientific developments in thisfield. EcoSecurities has been voted 'Best Advisory Firm - Kyoto ProjectCredits' over the last seven years by reader surveys conducted by EnvironmentalFinance 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