Tricorona adds project in Bangladesh to its portfolio
Tricorona has signed a new purchase contract for emission reductions generated from a bundle of Waste Heat Recovery (WHR) projects in Bangladesh.
The developer is Rahimafrooz Renewable Energy Ltd and the project is expected to generate 59,000 carbon credits per year.
This is the second project that Tricorona develops together with Rahimafrooz. The first project – Akij Particle Biomass Thermal Energy Generation CDM Project – is currently under third party validation with project design documents publicly available on the UNFCCC website. The Akij project is expected to reduce emission by 39,000 tonnes annually.
– We are delighted to be in business with Rahimafrooz. They are our long-term partner in Bangladesh and we look forward to a fruitful cooperation going forward, says Moe Moe Oo, Managing Director of Tricorona Singapore.
Bangladesh has the status of a Least Developed Country (LDC) which means that the carbon credits generated from both projects will be eligible for compliance usage in the European trading scheme, the EU ETS.