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CDC Climat invests in carbon credits generated by the biggest wind power plant in Tunisia
Carbon financial services - 09 January 2012
Société tunisienne de l’électricité et du gaz (Steg), Orbeo and CDC Climat Asset Management signed an agreement to sell Certified Emission Reduction Units (CERs) generated by the Bizerte wind power plant (Northern Tunisia).
The signing of this agreement, following an international competitive bidding process, boosts the implementation of the energy and environmental policy to fight against climate change to which Tunisia has committed and confirms Steg’s commitment to developing and promoting new and renewable energy in Tunisia.
This transaction was structured by CDC Climat Asset Management and Orbeo, which will play a part in the process of this Clean Development Mechanism (CDM) project. The CERs will be jointly bought by CDC Climat and Proparco (AFD Group), as part of a mandate to invest in Southern and Eastern Mediterranean countries.
The Bizerte wind power plant project consists of a pool of 143 wind turbines spread across two locations, Metline and Kchabta, with a total capacity of 190 MW. Operating the biggest wind power plant in Tunisia should enable an annual electricity generation of around 600 GWh and saving more than160,000 fossil fuel tons per year. The emissions avoided are estimated 325,000 tons of CO2 per year.
