OREANDA-NEWS. On 05 May 2008 was announced, that cooperation with GreenStream will allow TGC-9 to attract extra investments for implementation of top-priority investment projects.

GreenStream is supposed to provide TGC-9 projects support on the carbon market: from development of project design documents to selling of emission reduction units to certain investors. There are two projects being considered within the carbon agreement concluded by OJSC “TGC-9” and GreenStream Network Plc, they are Perm HPP-6 reconstruction with usage of SGU technologies (expected green house gases reduction is up to 604 thousand tons of carbon dioxide equivalent) and generation development in Berezniky city (expected green house gases reduction is up to 912 thousand tons of carbon dioxide equivalent).

TGC-9 started working on carbon projects in 2006. By today draft information on projects for Perm HPP-6, Novo-Bereznikovskaya HPP and Novo-Bogoslovskaya HPP is already worked out, that is a document necessary to be presented at various carbon tenders and for potential investors. Emission inventory on TGC-9 green-house gases for 1990-2005 is coming to the end. There has been installed an info-analytical system “Green-house gases”, necessary for emission monitoring, throughout all the production units.

The Finnish company GreenStream Network Plc. is a manager of Multilateral Carbon Credit Fund (MCCF) in the Russian Federation. MCCF was established on joint initiative of European Bank of Reconstruction and Development (EBRD) and European Investment Bank (EIB), being oriented on carbon projects implementation in countries of Middle and Eastern Europe and Central Asia. MCCF participants are countries-shareholders of EBRD and EIB, private and sovereign companies that purchase carbon quotas to observe targets on reduction of green-house gases emission or take part in carbon quota trade of their own free will.

For TGC-9 cooperation with MCCF means raising to the higher competence standard in the field of project joint implementation and additional financing attraction for top-priority investment projects of the Company.

In 2004 the Russian Federation confirmed Kyoto Protocol to the United Nations Framework Convention on Climate Change, according to which countries-participants have to reduce green-house gases emission. Kyoto Protocol states a range of flexibility mechanisms which are supposed to help countries-participants to perform these obligations. The most promising variant for Russia is Joint Implementation mechanism (JO). This means investing projects on reduction of green-house gases emission, made by one country to another one (on mutual consent). This mechanism along with the others helps to meet interests of both countries and to save the balance of green-house gases emission on the planet, thereby partly solving the problem of climate change.