The Ministry of Finance of the Russian Federation has approved two Kyoto Joint Implementation projects initiated by Fortum: a new unit at the Tyumen combined heat and power (CHP) plant, and the reconstruction of TGC-1’s Newsky hydropower plant.
The new CHP unit built by Fortum in Tyumen is the only heat production project approved in the Russian ministry’s project selection process. The unit, which was inaugurated in December 2010, and is undergoing performance test runs, has a production capacity of 230 MW of electricity and 270 MW of heat.
These Joint Implementation projects as defined in Kyoto protocol will reduce emissions in Russia, and Fortum will be able to use the related emission reduction units (ERUs) to cover own emissions in the EU’s emission trading scheme or sell them on the market. Approval from the Finnish authorities is still required if Fortum is to transfer the ERUs from Russia.
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