10th Sep 2007 14:13
Scottish & Southern Energy PLC10 September 2007 10 September 2007 Corporate update Scottish and Southern Energy plc ("SSE") has signed four agreements with GDPower Development Co Ltd (a subsidiary of China Guodian Corporation, one ofChina's major energy companies) to support the development of four new windfarms in north east China. SSE Energy Supply Ltd will purchase around twomillion Carbon Emissions Reduction Certificates (CERs) over a period of fiveyears from the start of 2008. The signing ceremony took place today 10th September 2007 in Beijing, China, andwas attended by SSE's Chief Executive Ian Marchant, and followed theannouncement in June 2007 that SSE had finalised the first of the fouragreements. Under the Clean Development Mechanism (CDM) established under Article 12 of theKyoto Protocol, countries - and therefore companies - can meet their carbonemission reduction targets by purchasing CERS from CDM-approved carbon reductionprojects in the developing world. This is the first time that SSE has directlyacquired primary CERs from a project. Each of the four wind farms is expected to have an installed capacity of around50MW and will displace carbon emissions from coal-fired power stations in theregion, leading to around two million tonnes of carbon dioxide being avoided.The construction of the first of the wind farms, GD Xingcheng Haibin is alreadyunder way and the last of them is expected to be commissioned during 2008. In May 2007, SSE announced that it has set itself a target to reduce by 20% over10 years to 2016 the amount of carbon dioxide per kilowatt hour of electricityproduced at power stations in which it has an ownership or contractual interest.It said its target would include CERs from specific generation projects underthe CDM, but would exclude those which are not related to a specific generationproject. Contacts: Sally Fairbairn Investor Relations Manager 01738 456 491Sharron Miller- mckenzie Press Office Manager This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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