The deal, valued at over A$20m, was conducted with seller B-road International Investment, a Chinese project developer. COzero expects CERs to begin issuing in 2010 through to 2019.

The transaction centers on CERs from three early-stage Clean Development Mechanism (CDM) projects across China, including bio-gas and fuel switching. Terms of the deal remain confidential but involve a tiered investment by COzero for both pre and post-2012 CERs.

Managing Director of COzero, Nick Armstrong, said “The deal represents COzero’s expansion into new markets, and approach to emissions trading in 2011. We see the international carbon market as being critical to the growth of the Australian carbon market and the growth of our business.”

The purchase of CERs under long term agreement, strongly positions COzero to provide a larger range of environmental certificates into the Australian compliance market.

The Australian government has indicated in the design of the Carbon Pollution Reduction Scheme (CPRS), that there will be unlimited allowance of international offsets.

The Scheme, due to commence in 2011, places a requirement on large emitters to purchase and surrender certificates if they exceed a baseline of their carbon dioxide emissions.

COzero are currently exhibiting at Carbon Market Expo Australasia 2009 at the Gold Coast Exhibition & Convention Centre. 

ABOUT COzero

COzero is a leading provider of Renewable Energy Certificates (RECs) and GreenPower to Local Government, industry and education clients in Australia. For more information on COzero, please see www.cozero.com.au or call 1300 BE NEUTRAL (236 388).