Chile’s 155-MW La Higuera to sell carbon credits in Europe

Developers of the 155-MW La Higuera hydroelectric project announced they have registered the project with VROM, the Dutch designated national authority, clearing the way for sale of Certified Emission Reductions credits in the European Union (EU).

The announcement by La Higuera partners Pacific Hydro Ltd. of Australia and Statkraft Norfund Power Invest of Norway, follows last year’s registration of the project with the United Nations’ Clean Development Mechanism (CDM) Executive Board, allowing sale of certified carbon emission reduction credits when La Higuera goes on line in 2008. (HNN 4/10/06) La Higuera is expected to displace carbon emissions of 470,000 tons per year.

�Over the next five years, Pacific Hydro plans to invest over A$1 billion (US$757.5 million) into projects in Chile,� Pacific Hydro Chief Executive Officer Rob Grant said.

The head of the Australia-based developer said the company’s investment in Australia would be half that amount unless its home government adopts meaningful climate change policies.

The developers said La Higuera is the largest hydroelectric project to receive registration through both CDM and an EU member country. In June India’s 192-MW Allain Duhangan hydroelectric project became the largest hydro development to receive CDM approval alone. (HNN 6/25/07)

Pacific Hydro currently is pre-qualifying bidders to build the 106-MW Chacayes hydroelectric project in Chile’s Cachapoal River Basin. The contract could include two additional projects totaling 284 MW. Responses are due August 30. (HNN 6/5/07)

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