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Innovative Wind Financing
This contract generated offsets from a Bonneville Environmental Foundation project that generated electricity from wind farms in Oregon and Washington. The Bonneville Environmental Foundation and The Climate Trust shared the costs of a joint purchase of the "pollution-avoiding" benefits from a wind farm. The organizations purchased the environmental benefits of wind power, called Green Tags, by paying the extra cost of wind power over grid power. This transaction is unique because the CO2 reductions were separated from the other environmental benefits and transferred to The Climate Trust, which retired the CO2 reductions rather than use them in any future trading system of credits. Bonneville Environmental Foundation retired the other benefits as well. How the project reduces emissions The electricity generated by the co-funded wind facility displaced electricity that otherwise would have been generated by burning fossil fuel at other power plants. The Climate Trust holds the carbon dioxide offsets in trust and will not sell them to companies for use in meeting air emissions regulations. Bonneville Environmental Foundation retains and will retire the remaining environmental benefits, or Green Tags, including reductions of nitrogen oxide, carbon monoxide, mercury, and other pollutants. The Green Tags are being purchased from the Bonneville Power Administration and came from three new wind projects across Oregon and Washington. The Green Tag revenue received by Bonneville Power Administration will be reinvested in the next round of renewable energy projects to serve Northwest electricity users. Why carbon finance was needed The Climate Trust's funding allowed Bonneville Environmental Foundation to reinvest funding into more wind power facilities in the Northwest.  top |
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Project type: Renewable energy Project term: 10 year project (completed in 2)
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