News item | 2010-06-02 | 09:30 AM

Vattenfall centralises sourcing of carbon credits

Vattenfall will strengthen its CDM/JI business activities by consolidating them under the roof of Vattenfall Energy Trading. The two units, which have worked in the CDM/JI business; namely, the Vattenfall Carbon Fund (formally part of Vattenfall Europe Generation) and Vattenfall Energy Trading’s Primary CDM desk, are joining forces.

The new enlarged team assumes responsibility for the sourcing of carbon credits and the off-take of emission reductions from CDM/JI projects from all over the world. The team operates under the name “Vattenfall Carbon Fund” and is headed by Michiel ten Hoopen.

“By bundling the market access for CDM and JI projects within Vattenfall Energy Trading, we can optimise our emissions portfolio and prepare the ground for future growth of carbon credits sourcing,” says Stephen Asplin, Head of Vattenfall Energy Trading. “Our multi-commodity approach, international set-up, and well-established emissions trading capacity in combination with access to a highly professional Credit and Legal support make us a perfect fit to manage Vattenfall’s CDM/JI project activities,” Asplin adds.

Based on its size and power generation portfolio, Vattenfall is one of the large European buyers of Certified Emission Reductions and Emission Reduction Units. “To support Vattenfall in its commitment under international climate agreements and efforts to become climate neutral by 2050, we are seeking additional collaboration opportunities in emission reduction projects worldwide,” says Asplin.

The Vattenfall Carbon Fund comprises a project portfolio originated in many parts of the world. It includes Africa’s largest CDM Project to date - ”Pan Ocean Nigeria”, large and small scale Hydro Projects in China and India, Biomass Projects in China, a small scale Hydro project in Peru, an energy efficiency in Moldova, and a N2O project in the Ukraine. With its long experience in CDM/JI Project Development, the expert team provides support throughout the whole CDM/JI Project Cycle.

Vattenfall Energy Trading is the central trading hub of the Vattenfall Group and one of the leading energy merchants in Europe. The trading unit mitigates and transfers risks to the market on behalf of the entire Vattenfall Group. Vattenfall Energy Trading trades electricity, gas, coal, freight and emissions and takes responsibility for a diversified sourcing of fuels and carbon credits. The Trading Unit runs its operations across Europe with offices in Amsterdam, Copenhagen, Hamburg, Stockholm and Warsaw and about 400 employees.

Contact:
Michiel ten Hoopen, Head of Vattenfall Carbon Fund, Vattenfall Energy Trading,
Phone: +31 6 50126 398, 
michiel.ten.hoopen@vattenfall.com

Thorsten Ziegler, Media Spokesperson, Vattenfall Energy Trading,
Phone: +49 40 24430 322, 
thorsten.ziegler@vattenfall.com

Vattenfall's Press Office, phone: +46 (0)8-739 50 10