Baotou Steel sells CO2 emission reduction credits
Inner Mongolia-based Baotou Steel recently got approval from the United Nations to sell its first phase 305,831 tons of Carbon Dioxide emission reduction credits (CER). The CER are sold for 8 euro per ton to enterprises including the Deutsch Bank.
Baotou Steel's two 0.15 million kilowatt CCPP generator units, which were put into operation last October, made it the fourth steelmaker in China using top gas and coke oven gas as power making fuel and helped to reduce the steel mill's Carbon Dioxide emission.
The company's CCPP units will generate 1.5 billion kWh of power and reduce carbon emission by 1.3 million tons in 2009. Baotou Steel's second phase 482,773 tons of CER are currently waiting for approval from the UN and are expected to bring the company considerable profits.
