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China

More carbon credits sold to UK

China Guodian Electric Power Development Company recently announced ratification of an agreement to sell almost two million carbon credits associated with the electricity generated by four wind farms by 2012. The credits are going to the UK, where they are being bought by Scottish and Southern Energy's SSE Energy Supply Limited. The first of the four deals under the agreement was concluded last year (Windpower Monthly, August 2007). The four projects, all 50 MW and all located in Northeast China, are Linhai Qingsong and Shuguang in Liaoning province, and Huachuan and Tangyuan in Heilongjiang province. The payment agreed upon amounts to some EUR 18 million and will add CNY 0.09-0.1/kWh ($0.013-0.001/kWh) to the price paid by utilities to Guodian for the physical electricity, typically CNY 0.50-0.60/kWh ($0.07-0.084/kWh). The first two wind farms are currently under construction, while the other two are pending final government approval.

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