Russia's Investlesprom receives €2.17B from Gasprom for successful green energy efforts over many years, including wood bioenergy projects, energy conservation

MOSCOW , February 21, 2012 (press release) – In the middle of February 2012 a sum of 2,166 mln euro was transferred to Investlesprom bank account by the companies Gasprom Marketing and Trading LTD. Exactly this price was set for success of many years of efforts of Investlesprom experts in the sphere of energy conservation and prevention of climatic changes , - in the area, known as “Kyoto protocol implementation”.

Pavel Blatkov, deputy administrator Pavel Blatkov, deputy administrator of “Energetics” Department of JVC “Investlesprom” speaks: - In 2004 the law of RF “About ratification of Kyoto protocol to UN framework convention concerning climatic changes” entered into force, since 2006 it provided new opportunities for advanced energy-efficient processes to be implemented at Investlesprom group enterprises – already as joint implementation projects( JIP). The mechanism of joint implementation let attract investments for JIP realization and future emission reduction units (ERU) implementation.

Onega-Energia In October 2006, at JSC “Onega-Energia” the project “Transfer from goal to wood waste energy in Onega city, Archangeljsk region” was successfully carried out. The project foresaw replacement of outdated and ineffective municipal heating system where goal was used by modern boilers where wood was burned. The total 43 Mvaat capacity necessary for heat supply of Onega city was replaced.

In May 2008, at Segezha PPM (Republic of Karelia) another similar, from the point of view of technological solution, project was implemented : «Reconstruction of power-plant boiler #7 using technology of “boiling bed” . The project implementation allowed to replace utilization of mazut by bark-wood waste. Total volume of emission reduction with these two JIP-projects was over one million of ??2-equivalent during the period of Kyoto protocol carrying out, since 2008 till 2012. ruction of power-plant boiler 7

In 2010, according to the order of the Ministry of economic development of RF both JIP-projects were approved, got official status. By the order of the Ministry of Nature, 1 072 424 ERU were reserved in the Russian carbonaceous units register for these projects. Shortly after cumulative volume of 642 892 ERU for both projects was put into circulation and transferred to the account of foreign authorized commissioner - Gasprom Marketing company and Trading LtD.

Proceeds for sold ERU equaled to 2,166 mln euro and were received on February 14 and 17, 2012.

Received funds will be used for paying off investment project aimed at financing JIP “Onega”, as well as implementing measures of improving energy efficiency and reduction of negative ecological impact at JSC “Onega-Energia” and JSC “Segezha PPM”.

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