| EDF buys carbon emission credits from Guangdong firm |
SHANGHAI, June 13 -- ELECTRICITE de France SA bought carbon emission credits from China Guangdong Nuclear Power Holding Co to help the French utility meet requirements to cut output of greenhouse gases, Bloomberg reported today.
The agreement covers 3.6 million metric tons of emissions credits generated by wind-power projects, Guangdong Nuclear, China's second-largest nuclear power producer, said in a statement on its Website today. It gave no financial details.
The Clean Development Mechanism under the 1997 Kyoto protocol allows companies in industrialized countries to buy carbon credits from developing nations to comply with requirements to reduce emissions of gases blamed for global warming. The United Nations has to approve such agreements to ensure only genuine projects attract tradable emissions credits.
EDF, Europe's biggest power producer, plans further cooperation with Guangdong Nuclear in power development and greenhouse gas emissions trading, the Shenzhen, Guangdong Province-based company said.
Guangdong Nuclear has started three wind power projects in China, with combined generation capacity of 400 megawatts that will generate 3.6 million tons in emissions credits, it said.
China plans to use hydropower, nuclear energy, biomass fuels and gas to help cut 950 million metric tons of greenhouse gas output by 2010, according to a National Climate Change Program unveiled in Beijing on June 4.
The 1997 Kyoto Protocol, signed by more than 80 nations and the European Union, requires EU members and other industrialized countries to reduce greenhouse-gas emissions by an average of 5 percent below 1990 levels in the five years through 2012.
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