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Sweden to buy CERs from Uruguayan wind project

19 Jul 2012 13:33 (+01:00 GMT)
Sweden to buy CERs from Uruguayan wind project

London, 19 July (Argus) — The Swedish energy agency (Sea) will purchase 600,000 certified emission reduction (CER) units from a wind farm in southeastern Uruguay, at an undisclosed price.

The Minas 1 wind farm comprises 14 wind turbines and is expected to become operational by July 2013, Sea and German-based project developer Sowitec said in a joint announcement yesterday. The wind farm will generate 600,000 carbon offsets over seven years.

This will be the agency's fourth clean development mechanism (CDM) project in Latin America. “We have had a focus on least developed countries in Africa and southeast Asia,” said Bengt Bostrom, international carbon market head at Sea. “We want to have a balanced portfolio and countries like Uruguay and India are good to focus on, as they have more established economies.”

Minas 1 will be the first large wind farm in the region, Sowitec director of trading Gerd Hummel said. “This project will not only help to tackle climate change, but is also an important impetus for Uruguay on its way to a low-carbon society and will push the sustainable development on a local level, in the rural southeast of the country.”

Wind power generation accounts for around 1pc of Uruguay's energy consumption, and the government aims to generate 15pc of the country's electricity from non-traditional renewable energy sources by 2015 — including wind, biomass and small hydropower. “Latin America, with many emerging economies, has a large market for renewable energy,” Bostrom said. “It is great that Minas 1 contributes to an increased share of renewables in the region's energy system and reduces large amounts of greenhouse gas emissions.”

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