Spanish power giant Endesa has unveiled a carbon credit purchasing contract between with China’s Huaneng utility as part of a programme to procure emissions credits under the Clean Development Mechanisms of the Kyoto Protocol.
The Endesa Climate Initiative, launched in November 2005, aims to acquire 15 million CO2 emissions rights through to 2012 generated by Joint Application Mechanisms and Clean Development Mechanisms projects implemented in countries not included in Annex I of the United Nations Framework Convention for Climate Change, including China.
The agreement calls for the acquisition by Endesa of 2.6 million tonnes of CO2 credits generated by three wind farms with a total capacity of 195 MW and operated by Huaneng.