A signing ceremony was held on Feb.5th at the Garden Hotel, Guangzhou, Capital of Guangdong Province, south China in the presence of Deputy Director of State Environmental Protection Administration Wen Wushan and British Consul-General Mr. Brian Davidson to mark the recent closing of the landmark transaction for the sale of certified emissions reductions from one of the largest landfill sites in China.

Signing ceremony of Guangzhou Xingfeng Landfill Gas CDM Project. [lifeofguangzhou.com]

ICECAP, the UK based carbon business, has agreed to purchase all the certified emission reductions generated by the project, ensuring that the Guangzhou Sanitation Bureau will receive a guaranteed return on their investment in the project which will be developed through a new special purpose company. The project is expected to generate around 5 million certified emissions reductions to the end of 2012 and will bring an estimated minimum of US $ 50 million new revenues to Guangzhou.

Xingfeng Landfill is the largest in China, with a daily treatment capacity of over 7,000 tons of garbage. The project aims at the capture and utilization of methane emanating from the landfill site, improving local air quality and at the same time generating much needed electricity from the waste gas.

Consul-General Mr. Brian Davidson said at the ceremony that the project is a wonderful example of the Kyoto Protocol working to promote a reduction in carbon emissions through cross border investment and partnership between the public and private sectors.

Mr. Greg Dunne, Director of ICECAP Carbon Portfolio Limited addresses the ceremony.
[lifeofguangzhou.com]

Mr Greg Dunne, Director of ICECAP Carbon Portfolio Limited told the reporter that from only 5 CDM projects in July 2005 to 297 in January in 2007, China has become the leading supplier of certified emissions reductions. Xingfeng project is the fifth project which they have supported in China and they are currently working on several others. China is one of their key markets.

There are totally 457 landfills in 660 cities around China. Due to lack of funds, backward technology and management, most landfills in these cities turn into greenhouse gas emission sources and do great harm to the atmosphere. Xingfeng project is expected to provide a successful solution to this problem, according to the representative of State Environmental Protection Administration.

Editor: Yan