The International Finance Corporation (IFC) is planning next week to examine the proposals of Chinese firm Anhui Kangyuan Electric Power Group Co to develop various hydro power schemes, and may buy carbon credits of projects under development.
The Chinese firm was set up in 1996 to develop hydro schemes in Anhui province, and has more than 10 hydro plants in operation. It aims to implement run-of-river carbon credited projects, which are at various stages of development and it hopes to bring a number of mini-hydro plants online over the coming months.
The IFC is examining its plans for a total of 88.8MW of installed capacity over nine plants, the capacities of each ranging from 1.3MW to 28MW.
IFC noted that the projects, when bundled, would enable the developer to sell up to approximately 177,000 tons/year of Certified Emissions Reductions (CERs). The Corp, via the Netherlands Carbon Facility, is looking at possibly buy the CERs from the firm, and hired consultant Stucky to review the schemes.