Carbonergy develops platform to help RE firms

MANILA, Philippines - Carbonergy Business Consultancy Services (CBCS) and its Swedish partner Cornland International have developed a platform to enable six renewable energy (RE) companies in the Philippines obtain carbon  credits.   

Peter Pembleton, chief executive officer of CBCS, said RE developers subscribing to the RE2Grid PoA platform would be able to generate certified emission reduction (CERs) credits that can be sold worldwide to compliance and voluntary  carbon markets.    

“Developers that wish to do so may also sell CERs from their subscribed projects into the European compliance market because the  RE2Grid PoA was registered before the end of 2012,” CBCS said.   

The platform, together with PhilCarbon’s Bulalacao wind project, the  first project to be included, was registered in December 2012 under  the Clean Development Mechanism. It runs until mid-2040, CBSC said.   

Furthermore, Pembleton said CERS generate extra cash flows for projects and provide an additional incentive to developers and their partners as well as to financing institutions and can assist  developers reach financial closure.   

Aside from Philcarbon, “a number of companies have expressed interest” in joining the program, Pembleton said.   

He said there are a number of ways a company can set how CBCS manage credits.   

“They can say sell it right away, keep it in the market, or they can have an existing agreement and we give it to their partner as soon as  they are ready,” he said.   

This means developers who subscribe to the program may dispose of 100 percent of the CERs from their projects according to their own  objectives.   

As such, Pembleton urged developers to put their projects under the  program in the near future in order to maximize the additional revenues that can be generated for their projects.