LONDON (Reuters) - Vitol SA, part of global energy trader the Vitol Group, has bought 8.5 million U.N.-backed carbon offsets from carbon asset manager KYOTOenergy Pte for an undisclosed sum, the company said on Tuesday.
The carbon credits, called certified emissions reductions (CERs), come from a portfolio of hydropower and wind projects in Vietnam and Laos, Vitol said in a statement.
Around 92 percent of the credits are expected to be issued after 2012, said Michel Buron, chief executive of KYOTOenergy, Point Carbon reported.
KYOTOenergy is active in South East Asia and Central America. It has registered 17 projects under the U.N.’s Clean Development Mechanism in six countries and has over 100 projects in its pipeline.
On Monday, a consortium agreed to buy 2 million CERs up to 2018 from a Moroccan wind farm project.
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