Developers of the 155-MW La Higuera hydroelectric project announced April 7 they have registered the project with the Clean Development Mechanism (CDM) Executive Board, receiving approval to trade certified carbon emission reduction credits when La Higuera goes on line on 2008.
Pacific Hydro Ltd. of Australia and Statkraft Norfund Power Invest of Norway, partners in developer Hidroelectrica La Higuera, said La Higuera, under construction on Chile’s Tinguiririca River, is the world’s largest hydropower project so far registered for CDM trading. The United Nations-authorized program is intended to reduce emissions of greenhouse gases thought to contribute to global warming.
La Higuera is expected to displace carbon emissions of 470,000 tons per year.
The World Bank’s International Finance Corp. has agreed to provide US$160 million for construction of the project. Brazilian construction company Queiroz Galvao last year won a US$130 million engineering-procurement-construction (EPC) contract. Lahmeyer of Germany is handling the engineering portion of the EPC contract with Chilean engineering company EPS.
Chile’s 136-MW Nuble signs carbon deal with U.S. firm
Chilean developer CGE Generacion has signed an agreement with MGM International of the United States for sale of carbon credits from the 136-MW Nuble hydropower project, Business News Americas reported.
Revenue from sale of carbon credits is intended to help finance the project, BNamericas said, quoting Chilean newspaper Estrategia. Nuble is to be built on the Nuble River at San Fabian de Alico in the Chile’s Biobio Region.
Nuble is expected to reduce greenhouse gas emissions by 420,000 tons of carbon dioxide per year while generating 700 gigawatt-hours.