1st Jun 2006 07:04
Camco International Ltd01 June 2006 Camco International projects receive Chinese government approvals June 1, 2006: Camco International (Camco) is pleased to announce that, followingits successful AIM Admission, the Designated National Authority of the ChineseGovernment has issued letters of approval (LoAs) under the Clean DevelopmentMechanism (CDM) for four renewable energy projects being developed by Camco'sclients in the country. The projects, totalling 142 MW, were co-developed by Chinese project developersand Camco, assisted by the Chinese Renewable Energy Industries Association(CREIA). Carbon credits generated by these wind and small-hydro projects are expected tototal over 1.8 million carbon credits in the period to 2012. Tristan Fischer, CEO, commented: "Receipt of LoAs is an important step in thecomplex CDM process. Camco is extremely pleased to be working with projects thatbring benefits in line with the sustainable development objectives of theChinese government. We expect these projects to be registered by the CDMExecutive Board in the coming months." Contact: Camco International Limited Tristan Fischer, CEO 020 7256 7979 Gavin Anderson & Company (for media enquiries) Ken Cronin/Janine Brewis 020 7554 1400 Notes for Editors: About Camco International Camco works as an originator, developer and manager of carbon credits, workingwith clients to convert carbon credit opportunities into assets of value ininternational emissions trading markets. Camco's key markets are China and Russia, where the company has significantexpertise and which are two of the largest potential markets for the generationof carbon credits. About Carbon Credits Carbon Credits are used to meet compliance targets under the Kyoto Protocol andrelated climate change legislation. In order to mitigate the effects of globalwarning, signatories to the Kyoto Protocol have agreed to reduce their greenhouse gases emissions to below 1990 levels. This can be done either by taking domestic action or buying credits fromdeveloping countries such as China (under the Carbon Development Mechanism) ordeveloped countries such as Russia (under the Joint Implementation Programme(JI)). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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