Masdar and Tri-Ocean secure carbon credits for Egypt project

09 May 2011

Carbon credits available from switching fuel of plant from heavy fuel oil to gas

Abu Dhabi’s Masdar Carbon and Egypt’s Tri-Ocean Carbon have registered their Kafr el-Dawar plant as a clean development mechanism (CDM) project under the UN Kyoto Protocol.

The companies converted the existing oil-fired boilers at the plant into natural gas-feed based ones. The new boilers have been operating for a few months.

Located at the Egypt for the Spinning, Weaving & Dying Company in Kafr el-Dawar near Alexandria, the fuel switching project has been accepted as a CDM project.

The replacement of heavy fuel oil (HFO) with natural gas is expected to generate approximately 45,000 certified emissions reductions (CERs) a year. One CER equates to one tonne of carbon dioxide equivalent.

By registering the project, the companies intend to monetise revenues from the project within the next year and continue for a further period of 10 years through carbon credits.

The Kafr el-Dawar scheme is the 23rd project to be registered under the Kyoto Protocol in the entire Middle East North Africa region.

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