ERPA signing ceremony: Co-composting of EBF/POME project in Malaysia
FOR IMMEDIATE RELEASE KYOTOenergy facilitated the sale of carbon credits generated by a Malaysian bio-organic fertilizer manufacturer to one of the leading electric power companies of Japan Kuala Lumpur, Malaysia – 27th August 2007 KYOTOenergy Pte. Ltd., the only technology-based Carbon Asset Management Company, has successfully facilitated the sale of carbon credits generated by a Malaysian manufacturer of bio-organic fertilizer, MG Biogreen Sdn Bhd (“MGBG”) to KANSAI Electric Power Co., Inc (“KANSAI”) in Japan. The transaction was formalised today by the signing of an Emission Reduction Purchasing Agreement (“ERPA”). Ir. Michel Buron, Chief Executive Officer of KYOTOenergy Pte. Ltd. and Ms Jasmine Haneef of TFS Energy, a leading emission brokerage firm, witnessed the signing of the ERPA between MGBG, duly represented by Mr. Dennis Lau (Senior Vice President Operations) and KANSAI, duly represented by Mr. Masahiro Izumi (Chief Manager, Office of Environmental Matters). The agreement will allow MGBG to transact up to 400,000 carbon credits generated by its palm oil waste composting plant located in Lahad Datu, Sabah till 31st December 2012, the end of the first Kyoto Protocol period, while KANSAI has an option to extend the agreement beyond that date. “This is our 2nd ERPA negotiated for a Malaysian company in the last 3 months.” explained Ir. Michel Buron. “As Carbon Asset Manager, we have a very unique approach in positioning ourselves on the seller’s side to optimise revenues from its carbon asset, by tailoring solutions to the seller’s financing needs and risk profile.” In just less than a year, KYOTOenergy has completed the tedious registration process with the ‘Clean Development Mechanism’, supervised by the CDM executive board under the guidance of the United Nations Framework Convention on Climate Change (UNFCCC), and will implement the monitoring, verification and delivery of carbon credits for the next 21 years with a projected 1 million tonnes of CO2e to be transacted. “Although traditionally set on an agricultural base, Malaysian companies can benefit from the flexible mechanism under the Kyoto Protocol, a new and unique opportunity to reduce Greenhouse Gases emissions while securing additional long term revenues to finance their projects”, added Ir Michel Buron. “Particularly in the palm oil industry, any average sized mill could earn up to 50,000 carbon credits a year by improving their waste management practices” he stated. In less than a year from its entry into the Malaysian market, KYOTOenergy has successfully negotiated and transacted over 600,000 carbon credits. The company targets to transact 2 million carbon credits per annum by 2012. Launch of KYOTOenergy CDM seminar The above signing ceremony was held in conjunction with the launch of KYOTOenergy’s 1st in its series of seminars on “Sustainable Development and CDM Projects” which will take place over the next few months in Malaysia, Singapore, Thailand, Philippines, Indonesia, and Latin America. - End – Issued by : RAPR Mileage Communications Sdn Bhd |
