China

China

Merrill Lynch buys carbon credits from five projects

Investment bank Merrill Lynch has signed an agreement to buy carbon emission reduction credits from five wind power projects totalling 247.5 MW developed by Guohua Energy Investment. The wind farms are located in Shandong Province, Hebei Province, and the Inner Mongolia Autonomous Region. All are due online next year and the agreement with Merrill Lynch runs to March 2013.

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