In 2013, Cabeolica successfully registered for the Clean Development Mechanism (CDM) project alongside the United Nations Framework Convention on Climate Change and signed an Emissions Reduction Purchase Agreement for the sale of Certified Emission Reductions (CERs) over a seven-year period.
The CDM was created within the scope of the Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC) to assist the greenhouse gas emissions reduction process in the fight against climate change.
Following a rigorous validation process, the United Nations registered the project as a clean energy producer that avoids greenhouse gas emissions. “Cabeolica and Cabo Verde are proud to have this project be a part of the CDM given the importance of this Framework Convention and the international recognition of the clean energy we produce,” according to Cabeolica CEO Antão Fortes.
With a total installed capacity of 25.5 MW, Cabeolica generates roughly a fifth of the electricity consumed on the country’s main islands, avoiding, on average, the production of approximately 55,000 tons of greenhouse gases per year, in addition to contributing toward reducing fuel importation needs.
The United Nations launched the CDM in February 2001 with the objective of mitigating world climate change. The mechanism allows projects aimed at reducing greenhouse gas emissions in developed countries to receive Certified Emission Reduction credits that may be sold or purchased so that each country can contribute to achieving the targets defined by the Kyoto Protocol.