Brussels, 11/06/2010 (Agence Europe) - The Multilateral Carbon Credit Fund (MCCF), set up by the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), has agreed to buy carbon credits resulting from an energy efficiency project involving equipment rehabilitation for the Ukrainian Ivano-Frankivsk Teplokomunenergo State Municipal Enterprise. This will be the MCCF's first municipal transaction and fifth operation in Ukraine.
Ivano-Frankivsk Teplokomunenergo is the main heat and hot water supplier to Ivano-Frankivsk, a city of 250,000 inhabitants. The EBRD's €11.7 million loan to the city's municipal utility company, Ivano-Frankivsk Teplokomunenergo, will finance its programme to reduce energy losses and reduce gas and electricity consumption. The proposed project, using the Kyoto Protocol Joint Implementation (JI) mechanism will use biomass for heat and power production, alongside rehabilitation of existing boiler equipment. Using cogeneration technologies, both heat power generation and electric power consumption will be reduced, further lowering greenhouse gas emissions. Key components of the project are replacement of old water heating equipment by more efficient, modern boilers, installation
of cogeneration units in 5 separate boiler-houses and provision of three wood-fired boilers at two
boiler-houses.
Carbon credits being bought through the MCCF will be generated from the Joint Implementation (JI) mechanism under the Kyoto Protocol. This transaction was negotiated by GreenStream Network Plc, which acts as a carbon manager for the MCCF.