At a ceremony in Peru, officials from the Peruvian National Fund for State Entrepreneurial Activities and Financing (FONAFE) and the Minister of the Environment for Peru announced the sale of certified emission reductions (CERs) from three unique energy efficiency projects to RWE Supply & Trading. Evolution Markets facilitated the sale of CERs on behalf of both counterparties.

In coordination with the Ministry of Energy and Mining, FONAFE is reducing energy usage across the country through a program to replace incandescent light bulbs with energy saving light bulbs, thereby reducing electricity consumption and reducing emissions of carbon dioxide (CO2) into the atmosphere. The three projects will replace 1.5 million light bulbs over the life of the program and will qualify for credits under the Kyoto Protocol’s Clean Development Mechanism (CDM).

The forward sale of resulting CERs to RWE will assist in financing implementation of the project. FONAFE announced today the transaction with RWE is estimated to raise €1.95 million.

More information can be found in the official news release (EN ESPANOL – ENGLISH). If you have any questions regarding this project or participating in CDM markets, please contact our Global Carbon Markets team at: +44 (0)20 7264 4550 or londoncarbon@evomarkets.com.