Mexico's CEMEX Solidifies Carbon Credit Niche
Last year, we noted that Mexico's oil monopoly Pemex was investigating opportunities to reduce its carbon dioxide emissions under the Clean Development Mechanism, a pollutant trading system mandated under the Kyoto Protocol.
Another one of Mexico's biggest companies is also becoming a significant player in the CDM game. CEMEX, a multinational producer of cement and other building materials with headquarters in Monterrey, Mexico, is planning to develop $120 million in carbon credits via renewable energy projects, energy efficiency, and other CO2 emission reduction projects by 2012, according to Alto Nivel, an online Mexican business magazine.CEMEX is partnering with CO2 Solutions, a company that helps design CDM projects for Cemex and other companies and guide the projects through the CDM certification cycle.
One of CEMEX's projects is a wind park called Eurus in the southern Mexican state of Oaxaca. Eurus will begin operations in October 2008 and will have an installed capacity of 249 MW to supply CEMEX plants. Within 10 years, the project will mitigate the release of 6 million tons of of CO2, of which 500,000 will be certified by 2012.:: Via Alto Nivel