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CF Partners to Buy 1.5 Million UN Credits From India After 2012
2010-09-22 15:01:29.97 GMT
By Natalie Obiko Pearson
Sept. 22 (Bloomberg) -- CF Partners (UK) LLP, a hedge fund
focused on emission projects, agreed to buy 1.5 million United
Nations credits to be generated after 2012 by Indian wind farms.
CF Partners entered a forward purchase agreement to buy an
additional 600,000 offsets for delivery before Dec. 31, 2012,
from Gensol Consultants Pvt. Ltd., the hedge fund said today in
an e-mail.
Countries have yet to negotiate an extension beyond 2012 of
the Kyoto Protocol, which governs the UN greenhouse-gas market,
the world's second-largest. CF's agreement has a floor price of
10 euros per credit, Anmol Singh Jaggi, director of Gensol, a
Haryana-based carbon broker, said by telephone.
UN emission credits for delivery in December are up 23
percent this year to 13.50 euros on the European Climate
Exchange in London. UN credits for 2012 have risen about half as
much, and the spread between the two contracts rose to a record
on Sept. 7, driven by concern about the program's future.
For Related News and Information:
Renewable-energy markets: RENE <GO>
Emissions-trading stories: NI ENVMARKET BN <GO>
Most-read alternative energy stories: MNI ALTNRG <GO>
--Editors: Mike Anderson, John Buckley.
To contact the reporter on this story:
Natalie Obiko Pearson in Mumbai at +91-22-6612-9107 or
npearson7@bloomberg.net.
To contact the editor responsible for this story:
Clyde Russell at +65-6311-2423 or crussell7@bloomberg.net.
