Agrinergy and RWE establish key partnership
13th November 2008
- Joint promotion of climate protection projects
- Strengthening both parties’ position on the growing CDM market
Agrinergy, currently operating with a team of 20 employees, has operations in Singapore, India, Indonesia, Thailand and the UK. The company’s growing CDM project portfolio covers a broad range of sectors – from blended cement, municipal waste, biomass and waste heat recovery to small scale renewable energy projects. RWE currently operates some 100 CDM projects in China, India, Egypt, South Korea, Chile and Vietnam. N2O destruction, energy efficiency project activities (e.g. energy savings lamps and heat recovery), hydro and wind power, coal mine methane recovery, biogas and biomass projects are at the core of RWE’s CDM activities.
Ben Atkinson, Director of Agrinergy, said: “The combination of Agrinergy’s in-depth CDM know-how and experience coupled with RWE’s financial backing will allow us to provide a comprehensive and tailored offering to CDM projects – from carbon credit purchase to project funding and technical and engineering expertise.”
Dr. Michael Fuebi, Vice President Climate Protection at RWE Power, stated: “We’re very pleased to have entered this partnership with Agrinergy. This will strengthen our position in the CDM market, which is key for global climate protection. We expect a number of synergy effects from this partnership, since we’ll be able to combine both Agrinergy’s and our own CDM project management experience with our company’s financial strength. Our joint aim is to do develop more projects, find new partners and contribute still further to climate protection schemes across the world.” RWE is investing in Agrinergy via its subsidiary RWE Power Climate Protection GmbH.
Notes to editors:
Agrinergy is a leading provider of carbon credit services, with a focus on the Clean Development Mechanism, one of the three flexibility mechanisms outlined in the Kyoto Protocol. Agrinergy provides companies in the developing world with an end-to-end solution – from identifying and registering climate change projects through to marketing the resulting carbon credits and obtaining related project finance. The core competences of Agrinergy are CDM Project Identification, Registration and Commercialisation and Clean Investment Advice. Being one of the first players in the carbon market, Agrinergy has a strong presence in Asia and a successful track record in registering and transacting CDM projects. Agrinergy has produced successful methodology submissions, developed the first registered bagasse CDM project and has a diversified portfolio of projects covering a wide range of sectors. www.agrinergy.com.
RWE is among Europe’s five largest utilities. The Group is active in the generation and transmission as well as the sale and trading of electricity and gas. 63,500 employees supply 20 million customers with electricity and 10 million clients with gas. In fiscal 2007, the Group recorded € 42.55 billion in revenue. RWE is the biggest power producer in Germany and No. 2 in the UK. The Group is continuing to expand its position in Central and South-Eastern Europe. RWE is involved in over 100 Clean Development Mechanism and Joint Implementation projects and has set aside €150 million for this purpose for the coming years. www.rwe.com
Clean Development Mechanism: Within the context of the Kyoto Protocol, it has been agreed that a power generator in the European Union is entitled to carry out emission reduction projects through investment in third-party, foreign plants in a developing country. Thereby generated carbon credits can be used as part of the power generator's compliance within the European Emissions Trading System.
For further information please contact:
Yulia Kiryeyeva, Agrinergy Limited
t +44 (0)1242 506303
e yulia.kiryeyeva@agrinergy.com
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