Spain’s Environment Ministry has approved an agreement under which utility Endesa is to buy 2.7 million tons of carbon dioxide (CO2) emission rights from a Chinese hydropower project and three wind generation projects.
Endesa is to buy, for an undisclosed amount, certificates for the 2006-2012 period from the projects, which total 215 MW.
The projects are the 26.55-MW Gansu hydropower project in central China owned by Jiuquan Sanyuan Hydro Power Development and three wind farms totaling 188 MW owned by Huaneng.
Last year Endesa said it had put in place a plan to buy carbon credits and would buy 15 million tons of emissions until 2012. Spain plans to exploit the so-called flexibility mechanisms within the Kyoto climate change treaty that allow countries to buy pollution reductions — or carbon credits — from overseas instead of cutting their own.