EcoSecurities and PLN to develop renewable energy projects

Ireland's EcoSecurities, a firm in the business of sourcing, developing and trading carbon credits from greenhouse gas emission reduction projects, has signed an Emission Reduction Purchase Agreement (ERPA) with state electricity firm PLN, to develop and purchase the Certified Emission Reductions (CERs) generated from a large-scale geothermal project and five hydroelectric projects located throughout the country.

The geothermal power project, located in West Java, will have a capacity of 60 MW and will start commissioning in January 2008. The hydroelectric projects consist of two large hydro plants, Genyem in Papua and Poigar in North Sulawesi, which have a combined capacity of over 50 MW, and three mini-hydroelectric projects with a combined capacity of 4.2 MW, located in West Kalimantan, North Sulawesi and Gorontalo.

EcoSecurities will work with PLN throughout the project cycle, by undertaking development of the Project Design Document (PDD), registration of the project with the UN, monitoring and verification of emission reductions, and finally by purchasing the CERs into its carbon credit portfolio. Projected volumes of CERs generated for the six projects in total will be more than 2.6 million CERs up to and until 2012.(alex)