Esk Hydro Power (EHP) has signed an agreement with the New Zealand government for the installation of a mini-hydro scheme that will qualify for emission reduction credits under the Kyoto Protocol.
The proposed Toronui mini hydro power scheme, to be located in New Zealand’s Hawke’s Bay, is expected to generate electricity to the tune of 4.3MkWh per year for local customers.
EHP is set to receive up to 12,000 carbon credits for the plant, which it anticipates having up and running by 2005.
Toronui is one of fifteen projects earmarked for carbon credits in December 2003 under the first tender round of the New Zealand government’s Projects to Reduce Emissions programme.
The programme is worth a total of four million carbon credits and attracted bids from 46 potential project developers.