More than 40 large and small New Zealand organizations have put forward proposals for projects to reduce greenhouse gas emissions in return for a share of Kyoto Protocol “carbon credits” on offer from the New Zealand Government. A total of 45 project proponents have submitted bids for the four million emission units or “carbon credits” being offered in the first tender round for New Zealand’s “Projects to Reduce Emissions.”Auckland, New Zealand – November 3, 2003 [SolarAccess.com] “This hugely positive response shows that a healthy number of businesses, both public and private, are keen to reduce emissions of greenhouse gases and be rewarded for it,” said Pete Hodgson, Convenor of the Ministerial Group on Climate Change. “The high number of bids and the variety and innovation they involve mean we will be able to choose the very best projects on offer. This is good for New Zealand and good for business.” The projects include wind farms, hydro and geothermal electricity projects, proposals for generating electricity from landfill gas, a range of bio-fuel and bio-energy projects and plans for waste treatment. Most of the tender bids are for projects that will generate or reduce the demand for electricity. “On first reading, many of these projects will meet the Government’s objective of making New Zealand’s electricity supply more secure in the near future and contribute to the target for renewable energy,” said Hodgson. “They are an important step in taking New Zealand towards a clean, green and sustainable energy future.” The New Zealand Climate Change Office is evaluating the tenders and will make a set of recommendations to an independent assessment panel. To be eligible, projects must deliver a minimum reduction in emissions during the first commitment period of the Kyoto Protocol (2008-2012), go beyond “business-as-usual” and achieve measurable reductions in greenhouse gas emissions that would not have happened otherwise. If the pool of four million emission units is over-subscribed, priority will be given to projects that will contribute most to electricity security in New Zealand the near future. Successful projects will be decided by early December and the first project agreements between project owners and the New Zealand Government should be finalized before Christmas. Others will be completed early in the New Year.