CRM captures one-sixth of Chinese CDM market
The Liaoning Changtu Wind Farm project was registered under the Clean Development
Mechanism in April 2007, making it the twelfth Chinese project in Carbon Resource
Management's portfolio to be registered.
Carbon Resource Management's projects now account for one in every six of the 70
Chinese CDM projects registered under the CDM (as of mid-April 2007). Three more
of CRM's Chinese projects have also been submitted for registration.
The company's portfolio in China includes windpower, biomass CHP, Coal Mine Methane
and small-scale hydropower projects.
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CRM signs landmark deal with the Government of Japan
Carbon Resource Management has signed a landmark deal with The New Energy and Industrial
Technology Development Organization (NEDO) which is buying Certified Emission Reductions
on behalf of the Government of Japan. The sale of CERs to NEDO from CRM's Shandong
Yucheng Xinyuan Biomass Heat & Power project marks the company's first entry into
the Japanese market. The company's competitive bid, proactive approach and strong
track record, along with the advanced nature of the project, helped to secure the
contract.
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First ever transaction of exchange traded wind carbon credits from China completed at the CCX
Carbon Resource Management has successfully registered the first carbon credits
originating from a windfarm project in China at the Chicago Climate Exchange (CCX)
and executed on the CCX trading platform.
The carbon credits originate from a wind farm in Northeast China where 23 wind turbines
have been installed, each with a power output of 1,500 kW. The project is expected
to generate approximately 74 GWh of electricity per year. A total of 74,779 credits
were traded at the CCX, corresponding to the period from October 2005 to August
2006. Further credits for the following years are expected to be verified and registered
for trading at the CCX at a later date.
Nick Clarke, CRM's CEO said: "The success of delivering and trading verified emissions
from China to the CCX demonstrates that the mechanisms are in place to effect carbon
trading worldwide and that this is the solution for tackling climate change."
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