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Ireland

Ireland

Crystal clear Irish credit trade

The first ever sale of green credits in Ireland has been concluded between renewable electricity trader Eirtricity and Waterford Crystal, the world famous glass company. The deal offers Waterford the green value associated with output from Eirtricity's wind farms. The "greenness" of the electricity is verified by the Green Certificate Company -- an offshoot of Campbell Carr of the UK -- which issues Eirtricity with green certificates.

Eirtricity's Eddie O'Connor says: "We are delighted to be leading in this initiative not just in Ireland, but to be one of the first European companies to actively trade green credits." Eirtricity claims that renewable energy, part funded through green credit sales, could provide Ireland with one of the most painless ways of addressing its serious emissions problem. It will allow industry the flexibility to meet emissions reduction targets as economically as possible, says O'Connor. He calls on the government to maximise the opportunities for green credit trading in its forthcoming climate change strategy. "This could involve relief from future energy taxes for holders of validated green credits."

Since it began trading in March, Eirtricity has acquired over 4000 customers -- all small and medium sized enterprises -- who it supplies with around 39 MW of wind generated electricity.

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