New Zealand’s Nga Awa Purua Joint Venture, owned by the Tauhara North No 2 Trust and Mighty River Power, has recently concluded the sale of 410 000 Emissions Reduction Units (ERUs) to Deutsche Bank for NZ$9.31m ($8.1m).

The joint venture, which owns the 140 MW Nga Awa Purua geothermal power station, secured rights to up to 791 000 Projects to Reduce Emission (PRE) units in 2004.

In the first year after commissioning, the plant earned 410 000 ERUs from the PRE scheme, which were on-sold internationally.

The New Zealand Government’s PRE scheme allocated PRE units to qualifying greenhouse emission reduction projects. The PRE allocation to Nga Awa Purua reflects its displacement of high carbon intensity thermal electricity generation.

The Nga Awa Purua geothermal power station is located on the Rotokawa geothermal field north-east of Taupo, and was commissioned in early 2010.

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