International power company GDF Suez commits EUR 20 million in NEFCO Carbon Fund

The NeCF has purchased emission reduction units from wind farms in Mexico. Photo: Patrik Rastenberger

The international power company GDF Suez has committed EUR 20 million into the NEFCO Carbon Fund (NeCF) in order to acquire emission reduction units to meet its post 2012 commitments under the EU’s emissions trading system.

GDF Suez’s investment, through subsidiary Electrabel S.A./ N.V., is earmarked to acquire high quality carbon credits after the Kyoto Protocol’s first commitment period, which means that emission reduction units will be purchased only from 2013 to 2020.

”The NEFCO Carbon Fund is delighted to welcome GDF Suez as a fund participant. As a truly global player and active participant in the international carbon markets, GDF Suez brings a wealth of carbon market experience to the NeCF”, said NEFCO’s Vice President and Head of the Carbon Finance and Funds Unit, Ash Sharma.

For GDF Suez, this investment is important to help the Group meet its CO2 reduction obligations in Europe. To comply with the European objectives, GDF Suez continues to invest in increasing the efficiency of its generation park as well as procuring carbon units. Therefore the Group decided to invest in the NEFCO Carbon Fund.

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