AEROWATT : Carbon credits forward sale signed between Aérowatt and the Swedish Energy Agency

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Paris, July 7, 2010 - ecosur and Aérowatt are pleased to announce the signing of a forward sale of 210,000 carbon credits between Aérowatt, wind and solar power producer listed on the Paris Stock Exchange (Alternext), and the Swedish Government represented by the Swedish Energy Agency.

Emission reductions will be achieved by the operation of an 18 MW wind farm which should be commissioned in 2012 in Plaine des Roches, North East of Mauritius. The electricity generated will be fed into the national grid, primarily powered by diesel and coal power plants.

Mr. Jerome Billerey, CEO of Aérowatt, expressed his satisfaction: "If successful, the project of Plaine des Roches will be the first wind farm of this size located in the territory of Mauritius. In addition to its pioneering nature, this project exemplifies the development strategy of our group in high growth potential markets. Mauritius and the African continent in general are at the heart of this vision. We thank the authorities of Mauritius for their trust and support. We will work together to meet all the conditions, particularly in terms of funding and tariffs securing necessary for the completion of this wind farm project. I would also like to thank the Swedish government, whose carbon credits purchasing contract will strengthen the financing of the project over seven years, and ecosur, our CDM partner, for its responsiveness and efficiency.

Mr. Bengt Boström, Head of the Climate Change Unit  at the Swedish Energy Agency, welcomed the agreement signed with Aérowatt: "Renewable energy is an historic opportunity for Africa because it enables the increase of each country's energy independence while reducing emissions of greenhouse gas emissions and thereby also  the impact of climate change on the marine environment and on a key sector as agriculture.We are pleased that our involvement in projects such as Plain des Poches contributes to the sustainable development of Mauritius".

Since the entry into force of the Kyoto Protocol (16 February 2005), any project reducing greenhouse gas emissions in a developing country can benefit from carbon credits within the Clean Development Mechanism (CDM) and its rules. These credits are sold to organizations subject to emissions constraints (European Union, Japan, Canada, Australia, ...). CDM has several benefits. It gives cost-effective emission reductions of greenhouse gases, and contributes to sustaniable development in developing countries. It  helps industrial countries to meet their emission reduction commitments to the Kyoto Protocol. Furthermore,  it promotes the transfer of clean technologies to developing countries. To date, 2250 projects have been registered by the Executive Board of the CDM - mainly in China, India and Brazil. In 2009, transactions on carbon markets represented more than 140 billion USD.

Contacts :

Aérowatt (www.aerowatt.fr)
Olivier Gaering
Head of International Development
o.gaering@aerowatt.fr

ecosur (www.ecosur.fr)
Stéphane Bottero
Project Manager
s.bottero@ecosur.fr

Agence de l'Energie Suédoise (www.swedishenergyagency.se)
Kenneth Möllersten
Transaction Manager
kenneth.mollersten@energimyndigheten.se

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