21 June 2010 – The Multilateral Carbon Credit Fund (MCCF), set up by the EBRD and the European Investment Bank (EIB), has agreed to buy carbon credits resulting from a CHP/district energy project involving equipment rehabilitation for the Ukrainian Ivano-Frankivsk Teplokomunenergo State Municipal Enterprise.
Ivano-Frankivsk Teplokomunenergo is the main heat and hot water supplier to Ivano-Frankivsk, a city of 250,000 inhabitants.
The EBRD’s €12 million ($m) loan to the city’s municipal utility company will finance its programme to reduce energy losses and reduce gas and electricity consumption.
The proposed project, using the Kyoto Protocol Joint Implementation mechanism will use biomass for heat and power production, alongside rehabilitation of existing boiler equipment.
Key components of the project are the replacement of old water heating equipment by more efficient, modern boilers, installation of cogeneration units in five separate boiler-houses and provision of three wood-fired boilers at two boiler-houses.
Participants of the MCCF include the governments of Finland, Belgium (Flanders), Ireland, Luxembourg, Spain and Sweden, as well as five private sector participants.
The transaction was negotiated by GreenStream Network, which acts as a carbon manager for the MCCF.