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Strong interest in Projects to Reduce Emissions

Hon Pete Hodgson: Strong interest in Projects to Reduce Emissions

Mon, 30 Aug 2004

Second tendering round of Projects to Reduce Emissions programme opens.

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Businesses, local authorities, other organisations and individuals are showing strong interest in tendering for Kyoto Protocol emission units or 'carbon credits' for projects that will reduce greenhouse gas emissions.

The tender opens today for a pool of six million emission units put up by the government. Those that are successful in the tender round will be awarded emissions units against projects that will reduce greenhouse gas emissions during the first commitment period of the Kyoto Protocol, 2008-2012.

Emission units are effectively allowances for greenhouse gas emissions. Holders can trade them on developing international markets. Government and large emitters alike buy them to offset their own emissions against prescribed allowances under the Kyoto protocol. Just last week, the New Zealand and Dutch governments signed an agreement to promote the sale of emissions units. Units awarded to a New Zealand wind farm have already been sold in the Netherlands.

"The second tender round in the Projects to Reduce Emissions programme is an example of how the Kyoto Protocol opens up new business opportunities," says the Convenor of the Ministerial Group on Climate Change, Pete Hodgson.

"The first tender round, held last year, was very successful with four million units being awarded to 15 projects. These included wind farms, hydro-electricity schemes, bio-energy and co-generation schemes. This programme will benefit New Zealand by bringing forward projects and the resultant reductions in greenhouse gas emissions. It offers tangible rewards for projects that take us further towards a clean, green and sustainable energy future.

"From the level of interest expressed at pre-tender briefings, we expect this tender round to be keenly contested. This means we will be able to choose the very best projects for reducing emissions. We also expect to see a high level of innovation in many of the projects."

More than 150 representatives of heavy industries, power, oil and waste companies, local authorities, transport companies and smaller technology-based firms attended pre-tender briefings in Auckland, Wellington and Christchurch last week. Tenders close on Friday 15 October 2004 with the first announcements of successful projects announced before Christmas. Documentation is available online from the Government Electronic Tenders Service at www.gets.govt.nz.

ENDS

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