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Austrian financial support for 300 MW wind project in Ukraine
1 March 2006
A 300 MW wind project in the autonomous republic of Crimea in Ukraine may be recognised by Austria as a Joint Implementation/Clean Development Mechanism project under the Kyoto protocol. If Austria invests in the project to earn Kyoto credits, it will get the financial boost it needs to become economically feasible. Ukrainian developer Nova-Eco, established last year by Swedish company Clean Energy Solutions, has been invited by Austria to submit a project design document. If accepted as a Kyoto Protocol project, it will genereate four million emissions reductions units (ERUs), with each unit equivalent to a tonne of carbon dioxide emissions. The potential purchaser of the ERUs is Kommunalkredit Public Consulting, part of the KommunalKredit bank, acting on behalf of the Austrian government through its environment ministry. A final decision on the project, to consist of a 100 MW wind plant at Chernomorskoye and a 200 MW plant at Lenino, will take at least a year.
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