Dienstag, 2. Oktober 2012

EIB completes first round of NER300 carbon sales

The European Investment Bank (EIB) has successfully completed the first round of sales of carbon allowances under the NER300 programme. The proceeds will support investment in carbon capture and storage demonstration projects and innovative renewable energy technologies. The EIB, acting as an agent of the European Commission, sold a total of 200m EU allowances since the start of the sales process in December 2011.

The next monthly report, covering sales during September 2012, will be published on Wednesday 10th October 2012 shortly after 6 p.m. CET. Details of the amount raised by the first round of NER300 carbon sales will be made available in a separate report in due course.

Background Information

Under the NER300 initiative, 300 million EU allowances – which are rights to emit one tonne of carbon dioxide – from the New Entrants Reserve of the European Emissions Trading Scheme were made available to raise financing for installations of innovative renewable energy technologies and carbon capture and storage (CCS). The allowances were sold in the EU Emissions Trading Scheme and proceeds will be made available to projects as they operate. 

The first tranche of 200 million allowances was sold within the envisaged 10 months period following delivery on December 2, 2011, as stipulated by the Cooperation Agreement between the European Investment Bank and the European Commission. The sales were completed on 28 September 2012, two trading days in advance of the deadline for sales from the first tranche.

No date has yet been set for the second NER300 tranche of 100m. The European Commission and European Investment Bank have agreed that timing for the start of sales from the second tranche of 100 million allowances will be determined following a review of sales of the first 200 million allowances. Sales of the second tranche are expected to be completed no later than the end of 2013. Further information on the timing of the second tranche will be provided in due course.

Source: EIB

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