March 12, 2014 / 5:21 PM / 4 years ago

EIB raises 132.9 mln euros from EU carbon permit sales in February

LONDON, March 12 (Reuters) - The European Investment Bank sold 20.3 million EU carbon permits in February, the bank said on Wednesday, raising 132.9 million euros ($184.3 million) to fund renewable energy and carbon capture and storage projects in Europe.

The Luxembourg-based bank sold the allowances via futures for December 2014 delivery, securing an average price of 6.55 euros each.

All but 100,000 of the units monetised last month were sold via screen trades on emissions exchanges ICE Futures Europe and EEX, with the remainder sold in deals cleared over the counter.

The EIB is tasked with selling 100 million permits by mid-April, the final tranche of a reserve of 300 million units - dubbed the NER300 - which has been set aside to raise cash for projects to cut greenhouse gases.

The EIB said it has now sold 70 million allowances since November 2013 at an average 5.35 euros each, raising a total 374.7 million euros.

In the first tranche, the EIB sold 200 million permits in 10 months between December 2011 and September 2012, raising 1.5 billion euros.

The European Commission said the winners of the funding from the NER300’s final tranche are to be announced in the first half of this year.

The EIB said it will release March sales figures after market close on April 9.

$1 = 0.7212 Euros Reporting by Michael Szabo, editing by Louise Heavens

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