The Agreement, signed on June 15, 2022, focuses on the commercialization of Carbon Credits derived from the substantial Greenhouse Gas Emission reductions achieved by the Solar Power Plant's operation in Kazakhstan.
Under the Terms of the Agreement, EES will provide the necessary financing to support the issuance and management of Carbon Credits. These Credits will be based on the quantifiable reductions of Greenhouse Gas Emissions achieved through the Plant's utilization of renewable Solar Energy.
EES, known for it's Expertise in sustainable Energy Solutions, recognized the immense Potential of the Solar Power Plant in Kazakhstan. By facilitating the commercialization of Carbon Credits, EES aims to support the further development and expansion of renewable Energy Projects in the Region.
Carbon Credits are a Market-based Mechanism designed to incentivize Companies and Organizations to reduce their Carbon Footprints. By generating these Credits, the Solar Power Plant in Kazakhstan will provide tangible proof of it's environmental impact, which can be traded and sold to Entities seeking to offset their own emissions.
The Agreement between EES and the Owner of the Solar Power Plant in Kazakhstan marks a significant step forward in the development of Carbon Portfolio of EES in Central Asia. It not only highlights the increasing interest in Solar Power as a viable alternative to Fossil Fuels but also emphasizes the importance of harnessing Market Mechanisms to incentivize clean Energy production and reduce Greenhouse Gas emissions.
With the support of EES, the 100MW Solar Power Plant in Kazakhstan is poised to continue its important role in the Country's sustainable Energy Landscape. As the demand for renewable Energy Solutions grows, this Partnership sets a positive example for Future collaborations.
