Press release: Climex and Asia Carbon Exchange auctioned 1,5 Mton of forward CERs (nov 29)

Last Friday, November 25th, the first ever on-line auction of forward certified emission reductions (CERs) from Clean Development Mechanism projects was held by New Values and Asia Carbon Exchange (ACX) over the Climex platform.

PRESS RELEASE

The World’s First Online auction of CERS successful

Amsterdam - Tuesday, November 29th, 2005 - Asia Carbon Exchange (ACX-Change) and New Values (Climex) have run the world’s first on-line auction for forward CERs contracts arising from CDM projects in Asia last Friday, November 25th, 2005.

Around 1,5-mil CERs were offered on-line November 25 from 12 CDM projects mainly based in India and Vietnam in the field of renewable energy, with vintages ranging from 2007 to 2012. Five potential buyers participated in the auction. Most projects received bids with prices ranging from € 3.75 to
€ 6.25. Eight transactions have been closed for a total of 130.000 tons. One whole project has been sold in Vietnam.

Over the coming period about 3 million tons of forward CERs from CDM Projects in Asia will be on offer. This will continuously grow as more CER projects are placed online and more auctions will be executed, as a regular service for New Values participants.

Vinod Kesava, Chief Operating Officer of ACX, “We are satisfied that this first auction was such a success and that there is clearly an interest for CDM projects as a defined channel for acquiring emission rights. ACX-Change is constantly aggregating more CERs arising from CDM projects and our on-line trading model is an excellent and transparent way to find the best possible price for the CERs.”

Tames Rietdijk, Chief Technology Officer of New Values, “The ACX-Climex auction platform worked flawlessly and last Friday’s auction was a good start. Together with interested parties we will evaluate and investigate what can be improved. New Values hopes that this first auction will stimulate more interest in its business model and expects to run auctions on a frequent basis as the CDM process matures.”

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