Mercuria is pleased to announce its participation to the 1st CDM project activity targeting the generation of electricity based on biomass residues (palm oil leaves and trunks) in West Africa.
Promoted by Biokala, the Biovéa project consists in the construction and operation of a 42 MW power plant in Aboisso, Ivory Coast. The site will supply the Ivorian national grid with more than 288 GWh of renewable electricity and will directly reduce greenhouse gas emissions. Commissioning and start of commercial operations are expected in Q4 2015.
Appointed as advisor and broker, ecosur afrique coordinated the whole CDM process and structured the carbon credits forward sale between Biokala and Mercuria Energy Group.
Jean-François Steels, Head of Emissions markets at Mercuria, welcomes the agreement with Biokala: « Mercuria is pleased to contribute to the success of this new project and to partner with an emblematic company in its sector, thanks to its size, its pioneer landmark and its strong environmental record ».
Fabrice Le Saché, CEO of ecosur afrique, expressed the group’s satisfaction: « this new CDM registration highlights our deep involvement in carbon markets despite poor price conditions. Our current diversification process – private equity and retail – is additional to our carbon finance advisory and brokerage business for which we will keep a continuous commitment. Indeed we believe that carbon markets will bounce back with more fragmentation and new market segments. This will require expertise yielding value for whom who knows to manage it. »
The Mercuria Energy Group through its participation in this project reaffirms its engagement to remain at the forefront of future energy and its position as one of the world’s leading independent energy and commodities trading companies.
About ecosur afrique
ecosur afrique powers sustainable development through its services, investments and goods in Sub-Saharan Africa. ecosur carbon provides advisory and brokerage services to originate and transact carbon credits, ecosur investment supports African start-ups and SMEs active in the clean energy sector and ecosur retail promotes clean, efficient and affordable consumer goods to African markets.
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