E.ON Russia has completed the transfer of Emission Reduction Units (ERU) to the buyer's account. The ERUs (quotas for greenhouse gas emissions) resulted from the operation of the CCGT-400 unit at the Shaturskaya GRES in 2011.
The transfer of the quotas in the amount of 381,900 units has been confirmed by a transaction report issued by the Russian Registry of Carbon Units.
The ERUs were acquired by E.ON Carbon Sourcing. The selling price is tied to the ERU prices in Europe.
In 2010, E.ON Russia was one of the pioneers in the market of Kyoto quotas. The CCGT-400 unit at the Shaturskaya GRES became the first Russian project which, besides being registered as a Joint Implementation project, was also endorsed by the UN Commission for the use under the Kyoto Protocol.
In 2011, two more projects implemented by the Company – CCGT units constructed at the Surgutskaya GRES-2 and Yayvinskaya GRES – were registered as Joint Implementation projects under the Kyoto Protocol.
The transfer of the quotas resulting from the Surgutskaya GRES-2 and Yayvinskaya GRES projects in 2011 is expected to take place in early 2013.
E.ON Russia sold its first Kyoto quotas in late 2011: 56.9 thousand units resulting from the operation of the CCGT-400 unit at the Shaturskaya GRES in 2010.
Power units based on combined cycle technology are about one-third more efficient than traditional power plants operating in Russia (efficiency 56-57%), which results in less greenhouse gas emissions produced for 1 kWh of electricity generated.
The total amount of ERUs for the three projects of E.ON Russia is estimated at 4 million tons until the end of 2012.