OREANDA-NEWS. JSC OGK-5 and Carbon Trade & Finance have signed a Memorandum of Understanding, which implies involvement of this company to work out opportunities related to Joint Implementation projects under the Kyoto Protocol within the framework of the implementation of the project for the construction of a new CCGT unit at Nevinnomysskaya GRES.

According to the OGK-5 press service, Carbon Trade & Finance is a specialized joint enterprise created by Dresdner Bank and OAO Gazprombank. The Company will provide OGK-5 with recommendations on preparation of project documentation, as well as render assistan ce during the elaboration of the Joint Implementation project. Moreover, the Memorandum parties intend to enter into a purchase or investment agreement related to carbon credits.

"Cooperation on the Kyoto Protocol is a very important source of funding and support to help reduce carbon emissions," said Mikhail Krupin, CFO of OGK-5. "This agreement makes us one of the very first companies in Russia to take advantage of this arrangement and we are looking forward to exploit the opportunities together with Carbon Trade & Finance."

"We are excited about the chance to work with OGK-5," said Matthew Shaw, Executive Director at Carbon Trade & Finance. - "This is a market of immense potential and we believe that emissions trading and joint implementation provides Russian companies in the power sector with opportunities to help fund environmentally sound expansion of capacity."