Kenyan Geothermal Firm Unveils Plan to Sell Carbon Credits (Standard Media)
Geothermal Development Company (GDC) is looking to generate revenue from its planned geothermal project in Menengai by selling carbon credits.
The company yesterday said it is working on modalities of registering the Menengai Geothermal Project under the Clean Development Mechanism of the Kyoto Protocol, which is under the aegis of the United Nations Framework Convention on Climate Change.
Successful registration of the proposed 400 MWe project could prove a significant revenue stream for the state-funded GDC.
Under the Kyoto Protocol, heavy polluters that exceed their emission levels can buy credits from companies implementing projects that help in absorption of harmful gases from the environment.
The degree of pollution is measured by the amount of carbon dioxide and other greenhouse gases that a company emits. Geothermal electricity generating projects are among those that seen as green, in that they do not harmful gases into the environment.
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