New York, New York [RenewableEnergyAccess.com] Endesa signed an agreement with the China Huaneng Group, a large electric utility in China, to acquire Emission Reduction Certificates (ERCs) from three wind farms owned by its subsidiary Huaneng New Energy Industrial Co. Ltd. (HNEIC).The wind farms, located in the province of Guangdong, have a joint capacity of 195 MW and will start operating in 2006 and 2007. They will generate 2.6 million tons of ERCs through to 2012. These newly acquired emissions reductions will allow Endesa to meet its CO2 emission commitments for its operations in Spain, Portugal, France and Italy, included in the Directive on Emissions Trading. Endesa is the first private company to launch a global CO2 emissions rights purchasing initiative. The target is to purchase 15 million CO2 emissions rights through to 2012 via the mechanisms provided for in the Joint Application Clean Development Mechanisms contained in the Kyoto Treaty. With this agreement, Endesa has gained a strategic position in China, a country considered to have the greatest potential for developing Clean Development Mechanisms projects. Endesa will set up workshops worldwide to explain the contracting procedures and agreements necessary to carry out the rights trading. The five-step process for reducing CO2 rights on behalf of Endesa guarantees both the buyer and the seller security throughout the entire procedure, starting with project analysis and culminating in the signing of a CO2 emission rights contract between the company and the project developer. Endesa expects its specific CO2 emissions to be 35 percent lower in 2007 compared to 1990. Endesa ‘s Spanish facilities slashed CO2 emissions by 27.5 percent between 1990 and 2004, while doubling their output during the same period.