Australia's Climate Bridge expands CDM projects
London, 19 September (Argus) — Australian carbon project developer Climate Bridge and Chinese firm Guizhou Panjiang CBM, which specialises in the development of low concentration coal mine methane, signed an agreement today to co-operate on future clean development mechanism (CDM) projects.
The companies will develop coal mine methane and ventilation air methane projects in Guizhou province, which will capture and eliminate fugitive methane from coal mines and use it to generate electricity.
“We are delighted to sign this co-operation agreement with Panjiang CBM,” Climate Bridge chief executive Alex Wyatt said. “Climate Bridge has functioned for many years as a bridge between the clean energy sectors of China and Australia, and we are extremely happy to be able to sign this deal to formalise our excellent working relationship.” The companies had so far collaborated on four CDM projects.
China's Guizhou province has the lowest GDP per person, but is a major exporter of power to nearby Guangdong province, Climate Bridge said. “Carbon finance… internationally through the CDM from countries like Australia has the potential to play a major role in locking in low carbon infrastructure as millions of people are lifted out of poverty over the next decade,” Climate Bridge said.
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