Captured Carbon has successfully completed the first sale of European Guarantee of Origins in the Irish Market. Ireland has no access to the electronic hub for energy certificates in Europe (AIB). The only avenue to bring EU Guarantee of Origins into Ireland is through bilateral agreements with other EU states. Captured Carbon has been actively engaging with Energy Regulators in multiple European states with a view to establishing processes to allow trade of GOs between Ireland and these states. This saw the first importation of GOs into Ireland this month for inclusion in the 2011 Fuel Mix Disclosure. It is anticipated that the company will continue to develop this area on behalf of suppliers and generators in Ireland and around Europe. Speaking at the news of this latest success for the company, Managing Director Duncan O’Toole stated:
“This development establishes the company in forefront of Ireland’s Guarantees of Origin trading landscape. As Ireland is a relatively small player in the trade of GO’s it is essential that wider markets are accessible. Captured Carbon took the view over 12 months ago that links had to be nurtured with the wider EU GOs family, as a result the company has established trade with a number of partners. It has also developed strong relations with regulators in different EU states. The company has positioned itself as a point of access to Ireland for many European generators of renewable energy. This month saw the company put together deals with numerous Irish and European GOs on behalf of generators and suppliers”
Captured Carbon has successfully registered its qualifying renewable energy clients for Ireland first “Guarantee of Origin” (GOs) which will be issued in the New Year. Captured Carbon has long been pushing for this for Irish renewable energy generators and has made submissions to Single Electricity Market Operator (SEMO) and the Commission on Energy Regulation (CER) in the past. The company will now look at selling these GOs on behalf of clients to interested parties across Europe. As the GOs issued will be backdated from Jan 2011, they will be active for all of 2012 and will assist large suppliers in meeting renewable targets.
The company has already spoken with parties in the Scandinaivia and mainland Europe and hopes to put together arrangement for the sale of GOs in 2012.
Click the link below to view the company’s input to the implementation process.
Captured Carbon has been appointed as consultant to the Pan European Carbon project, “The Introduction of the Communal Zero CO2e Emissions Certificate System as a tool for sustainable communities and regions” or the ZECOS project. This EU Project is funded by the European Regional Development Fund (ERDF) through the North West Europe Interreg (NWE Interreg) Programme. Over the course of the next three and half years the project will develop a tool to certify Zero Carbon emissions for communities across North West Europe. Communities in Germany, Ireland, Belgium and Great Britain will be part of the project. Captured Carbon will be tasked with developing methods for the ZECOS project to monetise carbon reductions”, Managing Director Duncan O’Toole said.
“This is an enormous vote of confidence in our company, the lead Partner in this project, the IFAS institute in Germany, are world leaders in sustainable environmental practices with a significant focus on monetary incentives to change. The fact that they approached us to join their application was a ringing endorsement in itself, but to successfully receive EU approval has been an enormous success for our company. The climate change challenge can be best addressed by formulating a business argument to reducing emissions this is one of the defining elements of the ZECOS project”.
This month Captured Carbon brokered it first LECs agreement with a generator based in Great Britain. Until now the company has been active in the Ireland and Northern Ireland however this move signals a strategic move into the larger market in Great Britain.
“This deal was quite challenging as it involved a number of issues that needed clarification. The sale of LECs must be carefully monitored and the correct audit trails need to be in place. Close consultation and communication with the Regulatory authorities is critical for a deal such as this. Captured Carbon identified an avenue to realise these sales and worked closely with all parties to ensure that the deal was approved.” Explained Duncan O’Toole, Managing Director.
Captured Carbon is at final contracts phase of its second Green Energy Premium Pool. This pool builds on the success of the first pool which aggregated approx. 50 MW of energy and delivers a return of approx 8% premium to the SMP & Generator Capacity prices. The organisation is already working on the third pool and aims to make an announcement on this pool quite soon. If you are a Generator of Renewable Electicity and are not in any REFIT (or similar ) scheme at present then you are ideal candidates for this pool.
Commenting on the Green Pool, Captured Carbon Managing Director, Duncan O’Toole said ” We have developed a mechanism to create a carbon premium for Renewable Energy, this is a new mechanism which we have road tested with regulatory experts at the start of the year. We then approached established energy supply companies and illustrated the proposed mechanism. Once the suppliers where convinced we then approached specific generators and asked to trial the mechanism. This was at no cost to the generators and all the administration was carried out be us largely. These generators are now receiving a monthly premium payment that represents approx 8% or what they are already receiving through their SMP and Capacity payments”.
The company is also looking at additional premiums for Green Energy and hopes to shortly broker the first Guarantee of Origin (GOO’s) deal in the state.
Captured Carbon has just launched its new website. The new website was commissioned to reflect the company’s evolution to a Business to Business based service.
The company has steadily grown its client base over the last 12 months. These clients represent larger business that require advice on how best to maximise their carbon credentials. The website reflects the growing services the company now provides to businesses.
According to Duncan O’Toole, Managing Director of the company; “The company was launched initially as a service to the public and businesses however over the last 12 months it has become apparent that our skills set and services appeal more to businesses. We have grown this market at a faster rate than initially expected and recent developments have brought us into sectors that we previously felt could be achieved in the longer term. We are now quite active in the Energy area which we initially felt would be a slow developer. Thankfully this area of our business has grown into a key service in the last 12 months”.