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French firms to buy carbon offsets from Tunisian wind farm | Africa

French firms to buy carbon offsets from Tunisian wind farm

CDC Climat, a unit of French state-owned bank Caisse des Depots, has agreed to buy carbon credits from a Tunisian wind power project in a deal which will see half the offsets go to project developer Orbeo.

Tunisian state-owned utility Societe Tunisienne de Electricite et du Gas will sell all of the 350,000 Certified Emission Reduction (CERs) a year it expects to generate from its 190 MW Bizerte Wind Farm project to CDC Climat, according to a joint statement from the three companies.

The Clean Development Mechanism (CDM) project is expected to be registered by the U.N. later this year, and is scheduled to start earning credits from 2014 to 2020.

The amount CDC Climat will pay for the credits was not disclosed, but will vary depending on the price of CERs in the secondary market, she said.

Orbeo, a unit of Belgium-based chemical producer Solvay, will help steer the project through the CDM registration pipeline, the statement added.
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Posted by Gloria Llopis | 2012-03-07