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Moscow, 25 April 2007. The Germany-based company RWE* and the Energy Carbon Fund of RAO "UES of Russia"** have embarked on joint implementation of the Agreement to develop a project intended to increase energy efficiency of the power plants comprising OAO "TGC-4".
During the first phase of the project, the German company's experts will assess the potential for greenhouse gas emission reductions and improving the economic efficiency of the plants' equipment. Based on the assessment results, RWE and the Energy Carbon Fund will produce plans for improving energy efficiency and ensuring greenhouse gas emission reductions.
RWE will then purchase the carbon credits obtained as a result of efficiency enhancement projects.
Importantly, the projects to improve energy efficiency will be financed with the proceeds from the sale of carbon credits.
* RWE AG is an electricity utility supplying electricity to households and industries. RWE is Germany's second largest power company.
** The Energy Carbon Fund was established in 2000 by RAO "UES of Russia". The ECF 's principal objective is to reduce the greenhouse effect and the anthropogenic environmental impact.
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