BEIJING (XFN-ASIA) - Power producer China Guodian Corp said it has signed a framework carbon credit agreement with EcoSecurities Group PLC and Deutsche Bank involving four clean development mechanism (CDM) projects.
The projects are expected to save 3 mln tons of carbon dioxide equivalent per year and the carbon credits generated from the projects will earn 30 mln eur per year, the company said.
Under the agreement, EcoSecurities and Deutsche Bank will buy the carbon credits from Guodian's four super-critical power plants, it said.
Under the Kyoto Protocol's clean development mechanism, clean energy projects in the developing world are permitted to sell credits to companies in developed countries, enabling the latter to meet their Kyoto commitments to reduce greenhouse gases.
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