Aboitiz Power Corp’s subsidiary, Hedcor Sibulan Inc., has been granted carbon credit accredition by the Det Norske Veritas Certification AS. Det Norske Veritas is a Norway based carbon credit accreditation facility.
It has been certified that the 42-45 MW powerplant that Hedcor is building will effectively reduce 95,000 TCO2e (tons of carbon dioxide equivalents) of carbon dioxide, had a fossil fuel based plant been built instead.
The Sibulan Hydro Power project is a 45MW hydro electric plant being built in the Davao City. It is expected to be completed and running by 2009. Funds gained from the selling of carbon credits will be used for construction of the hydro electric plant.
Another Hydro Project in Davao by Aboitiz Power Corp is the 30 MW Tamugan Suawan hydro electric project. The project however is getting opposition from the Water distributor of the City who claims first dibbs in use of the water from the river by virtue of having their permit approved in 1997. The Davao City Council however has stated that both projects are vital to the City so they will work to mediate the two groups that are odds with one another.
That’s the great thing about renewable energy projects, because of the Kyoto Protocol and the Carbon trading facility created by it. Green projects which don’t contribute Carbon Dioxide to the environment can sell their carbon credits to the carbon credit market and get additional income from it. With or without the Philippine Renewable Energy Bill, that should be encouragement enough for Philippine Power Investors to set up renewable energy power plants.
[source]
Category: Hydro, Carbon Credits
