The installed capacity of the wind power plants developed by Tricorona in China and India is now over 3000 MW – more than the entire installed wind power capacity in Sweden.
Tricorona shows that the private sector has an important role to play in cutting carbon emissions on a large scale. The installed capacity of the wind power plants developed by Tricorona in China and India has now surpassed 3000 MW – more than the entire installed wind power capacity in Sweden, the 12th biggest wind nation in the world. The wind power development in China and India is made possible through carbon finance within the CDM-system of the Kyoto protocol, a system contributing to making China one of the largest wind power countries in the world.
Wind is a fantastic energy source, and our customers are keen to support in wind power as a way of reducing their emissions, says Susanne Häfeli-Hestvik, MD for Tricorona Climate Partner. By choosing to build wind plants in China, we achieve a positive impact for the climate that is far greater than building the same plant in the Nordic region.
China had practically no wind power before the advent of the CDM system in 2005 and the last 7 years have seen the country overtake all other nations and become number one worldwide. Practically every wind project built in this period has been co-financed through the CDM system.
The rapid development of the Chinese wind power sector is a shining example of what CDM is all about: a huge increase in the production of renewable energy, where it has the biggest impact on the climate, says Niels von Zweigbergk, CEO at Tricorona.
The scale of the CDM system achievements is often underestimated by observers: Tricorona’s investments alone, in renewable energy and energy efficiency projects, represent annual emission reductions of over 10 million tons annually from 2013 onwards, which is one fifth of Sweden’s entire emissions.
The Clean Development Mechanism, CDM, is a market based mechanism defined in the Kyoto Protocol that allows emission reducing projects in developing countries to earn certified emission reductions credits. All projects registered under the CDM are carefully reviewed by the UNFCCC to ascertain their emissions reductions.