Back

EDF Trading signs Egyptian CDM project


EDF Trading, a wholly-owned subsidiary of EDF S.A., has signed an ERPA with PEI-Europe Ltd to purchase all CERs generated by the Egyptian Brick Factory GHG Reduction Project.

The project, which was registered on 14th July 2010, has bundled 311 independent brick kilns into one large CDM project. The brick kilns, which currently burn heavy oil, will be converted to natural gas and this project is expected to generate over four million CERs during its crediting period. The kilns are located in the Markaz of El Saff, in Giza Governorate.

“This scale of project is the first of its type in Egypt and presents an exciting opportunity for EDF Trading”, said François Joubert, Global Head of Environmental Products at EDF Trading.

“We are expanding our geographical presence in the Middle East and Africa and this project is a great addition to our CDM portfolio”, said John Rittenhouse, Chief Executive of EDF Trading.

“We are very pleased to be working with EDF Trading on this significant Egyptian CDM project," said Dr Donald Pinchin, President of PEI Ltd.

"Commissioning of the 205 kilns of Phase I is expected to begin in October and be on-going. Phase II which consists of 106 kilns has also begun and is expected to be completed by 2013," said Richard Szudy, President of IDEA-Egypt Ltd (the project operator) and Director of PEI-Europe Ltd.

This CDM project builds on the success of a VER project initially piloted between 2001-2006 by the Canadian International Development Agency in association with the Egyptian Environmental Affairs Agency. To date, it has generated around 200,000 VERs.

EDF Trading will also be marketing VERs from this pilot project on behalf of the project developer. This will support further financing of local social programmes.


For further information, please contact:
EDF Trading
Michele Reid, Head of Communications
Tel: +44 (0) 20 7061 4232
Email: michele.reid@edftrading.com


About EDF Trading
EDF Trading is a leader in the international wholesale energy markets. Its own portfolio of assets, combined with EDF Group businesses, give it the ability to source, supply, transport, store, blend and convert physical commodities across the wholesale energy markets.

EDF Trading is one of the top 3 market participants in European emission allowances and certified emission reduction credits. The team has built extensive knowledge of the CDM market and is actively involved in all the key areas of the value chain. With the experience of having sourced CDM projects in more than 15 countries, it has extensive understanding of the UN’s approval process and of the assessment of delivery risk associated with each project.

EDF Trading established and is responsible for the portfolio management of the EDF carbon fund (€290 million). It has one of the largest portfolios of carbon projects which currently number 200. It also has one of the most diversified portfolios in terms of geographic presence and methodology. It has worked with project developers across the world from Brazil to China, Russia, Korea, India, Malaysia, Mexico, the Phillipines, Thailand and Vietnam.

EDF Trading has one of the most mature portfolios in terms of registration percentage. Approximately 85% of the global portfolio already has UN registration. Projects include wind, hydro power, biomass, industrial energy efficiency, coal mine methane as well as wastewater and MSW management.

EDF Trading is a 100% owned subsidiary of EDF Group, Europe’s leading electricity producer, a major player in renewable energies, a significant participant in the worldwide revival of nuclear energy with a growing presence in the natural gas industry.

For more information on EDF Trading, please visit www.edftrading.com.