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Nordic carbon fund buys 4.6 million U.N. CO2 credits

LONDON (Reuters) - The Nordic Environment Finance Corporation Carbon Fund (NeCF) has closed deals to buy 4.6 million U.N.-backed carbon credits from 10 clean energy projects in India and southeast...

LONDON (Reuters) - The Nordic Environment Finance Corporation Carbon Fund (NeCF) has closed deals to buy 4.6 million U.N.-backed carbon credits from 10 clean energy projects in India and southeast Asia, it said on Tuesday.

"We are closing a large number of projects with a view to meeting the 12/12 registration deadline for EU ETS (emissions trading scheme) eligibility from projects not located in the least developed countries," said Ash Sharma, NEFCO vice president and head of carbon finance and funds unit, in a statement.

Two projects are in western India, several are in southeast Asia, including four small hydro power plants, a biomass project and a waste heat recovery power generation plant in Vietnam, and there is an energy efficiency project in the Ukraine.

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