The carbon credit was generated through the reduction of greenhouse gas (GHG) emissions by producing electricity from the wind power plant instead of conventional fossil fuel power plant.
The amount credited was for approximately 120,000 tons of carbon dioxide (CO2) emission reduction achieved by the operation by December 2009. Since commercial operation began in July 2008, the wind farm in Bulgaria has been operating without any trouble, the company said.
The Kaliakra wind power business is being conducted by Kaliakra Wind Power (KWP), a joint venture established locally with the Bulgarian engineering firm INOS-1 and is approved as a Japanese-Bulgarian Joint Implementation (JI) project to reduce GHG. KWP was capitalized at EUR10m with MHI owning 70% and INOS-1 the remaining 30%.
The KWP wind farm has been reducing carbon dioxide (CO2) emissions by 70,000 – 80,000 tons annually compared with conventional thermal power generation. Of the emission credits obtained through the project, up to 350,000 tons will be sold to Japan Carbon Finance (JCF) until fiscal 2012, the last year of the First Commitment Period in the Kyoto Protocol. MHI will purchase any surplus credit beyond 350,000 tons.
