China Guodian, Electricite de France sign carbon credit deal
Power producer China Guodian Corp said it has signed a framework agreement with Electricite de France (EDF) on carbon credit purchase involving 18 clean development mechanism (CDM) projects.
The projects are expected to save 8 mln tons of carbon dioxide equivalent in 2012, the company said.
Under the agreement, the two companies will build a super-critical coal-fired power plant with two 1-mln-kv generators in Hanchuan in central China’s Hubei province in 2008, it said.
The two firms will also cooperate in the areas of hydropower, nuclear power and renewable energy projects, it noted.
EDF signed the deal in Beijing as part of a delegation led by French President Nicolas Sarkozy.
EDF also signed a joint venture agreement with the China Guangdong Nuclear Power Corporation (CGNPC) for the ownership, construction and operation of two Areva-developed European Pressurized Reactors (EPR) at Taishan in southern Guangdong province.
Under the Kyoto Protocol’s clean development mechanism, clean energy projects in the developing world are permitted to sell credits to companies in developed countries, enabling the latter to meet their Kyoto commitments to reduce greenhouse gases.
Tags: power