RED.L Regulatory News (RED)

30 Nov 2006 07:00

Camco International Ltd30 November 2006 November 30th 2006 World's Largest Clean Energy Carbon Sales Contract Signed Camco International Limited ('Camco') is a leading player in the origination,co-development, placement and management of carbon credits under the KyotoProtocol. Camco announces that it has successfully facilitated an Emission ReductionPurchase Agreement ("ERPA") for the commercialisation of carbon credits for twoclean energy projects implemented by the Yangquan Coal Industry (Group) Companyin Shanxi Province, People's Republic of China. These Clean DevelopmentMechanism (CDM) projects are expected to produce 17.8 m tonnes of carbon creditsto the end of 2012, making this the largest clean energy carbon credit salescontract to date under the Kyoto Protocol. The transaction covers emission reductions generated by the capture andutilisation of methane that is currently released to the atmosphere from theworking mines of Yangquan Coal Industry (Group) Company. The captured methanewill be utilised to generate power and also as the primary furnace fuel of a newindustrial facility. Camco has assisted the project sponsor to realise the projects by identifyingand developing the carbon opportunity, and placing the credits associated withthe projects. Camco has now commercialised 35m tonnes of its 100.3m tonnescontracted portfolio. Camco International CEO, Tristan Fischer, said: "The commercialisation of the Yangquan projects represents an importantmilestone for global carbon markets. This transaction, the largest of its kindto date, brings into the market emission reductions from projects whichaccelerate the transition of one of China's largest coal producers to cleanerenergy. Furthermore as a leading example of CDM project development in ShanxiProvince, the main coal producing region of China, the projects will promoteincreased action on climate change and sustainable energy development." - ENDS - For further information please contact: Camco International Limited +44 (0) 20 7256 7979Tristan Fischer, Chief Executive OfficerScott McGregor, Chief Financial Officer Press Gavin Anderson & Company +44 (0) 20 7554 1400Ken CroninKate HillJanine Brewis About Camco: Camco is a leading player in the origination, co-development, placement andmanagement of Carbon Credits under the Kyoto Protocol. Camco works with industrial companies and utilities to identify and developgreenhouse gas emission reduction projects, managing the entire process fromproject initiation to carbon credit delivery. Camco helps maximise the volume ofcredits produced and facilitate their placement with purchasers in theinternational carbon market. This 'origination to delivery' capability provides greater clarity andmanagement of carbon credit risks, adding value to both sellers and buyersparticipating in Camco's transactions. Camco is a market leader in carbon credit origination in some of the largestpotential markets for Carbon Credits. Additional information is available at www.camco-international.com This information is provided by RNS The company news service from the London Stock Exchange