EBRD Netherlands Carbon Fund reaching out to small-scale carbon transactions

A Joint Implementation (JI) project consisting of six small-scale energy efficiency and renewable energy projects in Bulgaria, contracted by the EBRD for the account of the Netherlands, is now registered in line with Bulgaria’s national approval procedures. The Bank will purchase Emission Reduction Units (ERUs) from six small-scale projects aggregated into a single project by United Bulgarian Bank (UBB).
This is one of few examples presently available in the carbon market showcasing the possibility to bundle small-scale projects in order to reduce transaction costs and thus enable smaller companies to benefit from carbon finance.

The project will also deliver Assigned Amount Units (AAUs) in respect to emission reductions that have been realised since the project started in 2005.
UBB acts as an agent on behalf of the six sub-projects, which were financed by UBB with the support of the EBRD’s Bulgarian Energy Efficiency and Renewable Energy Credit Line Facility*.
In total, the six projects are expected to cut some 500,000 tonnes of CO₂ equivalent by the end of 2012, at which time the Kyoto Protocol commitment period is due to expire. This is roughly equivalent to the amount of emissions produced by 150,000 cars annually.

News source: EBRD link: article