On August 6, Longyuan Power South Africa had more CERs approved amounting to more than 1.4 million tons, a record high in the history of the Group’s overseas operations.

The approval was given to CERs for power generation in the De Aar wind power project - phase II between October 2017 and the end of 2020. Following the principle of voluntary emission reduction, the project is registered in VERRA, the world’s largest and most influential voluntary emission reduction agency. A South African consulting company was contracted to prepare the verification report, and an international verification agency was contracted to conduct remote verification. In the end, the CERs were successfully approved.

Before that, Longyuan Power has obtained approval for more than 900,000 tons of CERs for the De Aar wind power project - phase I. All the CERs were sold through multiple transactions. After that, Longyuan Power has continued to strengthen the verification and approval of CERs for the De Aar wind power project - phase II; at the same time, the company is active to seek international buyers. Before the project CERs were approved, the buyer was confirmed and a 900,000-ton carbon trading contract was signed. Even more, the company has received the first payment of nearly USD 400,000 from the buyer.

While securing the production, operation and epidemic prevention for the project, Longyuan Power South Africa continues to tap its potential, seizes opportunities, improves quality and efficiency, and carries on the efforts to work in the international carbon market, thus striving to maximize the environmental and economic benefits of its project.