Energy giant signs carbon credits deal
By Wang Ying (China Daily)
Updated: 2006-10-26 09:07
In the next four years, China National Bio plans to expand its biomass-fuelled
capacity to more than 2,000 MW, accounting for 55 per cent of the nation's
biomass power generators.
"By then, we will be able to cut greenhouse gas emissions by as much as 12
million tons per year," the company said in a statement, without disclosing the
investment involved.
Lin told China Daily that he expected more such CDM co-operation deals to be
hammered out in the future with EDF or other potential buyers.
The carbon credit market in China is heating up with the central government's
recent incentives prompting an increasing number of energy firms to heavily
invest in renewable energy projects.
"The potential of the CDM market in China is huge," Wang Qi,
secretary-general of Beijing-based China CDM Federation, told China Daily in an
earlier interview.
"There's great potential for profitability. An increasing number of
companies, big and small, domestic and foreign, are flocking into China's carbon
market," said Jiang Yun, programme manager of the China Energy Conservation
Association.
EDF Trading was set up five years ago and became a wholly owned subsidiary of
EDF Group in mid-2003.
Now one of the leaders in European wholesale trading of electricity, gas and
coal, EDF Trading optimises EDF's distribution and generation network through
buying and selling both electricity and primary fuels, and manages EDF's diverse
commodity risks on an integrated basis. European energy giant EDF operates
coal-fired power plants with an installed capacity of 3,720 MW in
China.
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