The Oregon Climate Trust (OCT) is preparing to sign on a wind power project that offsets carbon emissions, one of five winners in a $1 million tender last year. The trust's Mike Burnett declines to provide further details until the contracts are final. Last month, the OCT announced its second solicitation jointly with utility Seattle City and Light. The $5.5 million request for project proposals that reduce or sequester carbon dioxide comes from money provided by two large combined cycle gas turbine projects in eastern Oregon. Bids are due in April and contracts in 2002. The OCT was formed in 1997 when Oregon passed legislation requiring new power plants to mitigate for CO2 output. Power plants pay $0.63/tonne on CO2 output that exceeds standards. That fee could rise and fall based upon a market in CO2 credits.