Brussels, 05/10/2012 (Agence Europe) - On 1 October, the European Investment Bank (EIB) announced it had successfully concluded the first round of sales of carbon allowances under the NER300 programme. The EIB, acting as an agent of the European Commission, sold a total of 200 million EU allowances since the start of the sales process in December 2011.
In the context of the NER300 initiative, 300 million EU allowances - which are rights to emit one tonne of carbon dioxide - from the new entrants reserve of the European Emissions Trading Scheme (ETS) were made available to raise financing for installations of innovative renewable energy technologies and carbon capture and storage (CCS). The allowances were sold in the EU ETS and proceeds will be made available to projects as they operate.
No date has yet been set for the second NER300 tranche of 100 million quotas. The European Commission and the EIB have agreed that timing for the start of sales from the second tranche of 100 million allowances will be determined following a review of sales of the first 200 million allowances. Sales of the second tranche are expected to be completed no later than the end of 2013. (OL/transl.jl)