The NEFCO Norwegian Carbon Procurement Facility (NorCaP) has launched its first Call for Proposals. NEFCO is inviting Clean Development Mechanism (CDM) project participants to submit proposals for delivery of Certified Emission Reductions (CERs) from commissioned CDM projects that are vulnerable to the current low CER prices.
The Letter of Invitation, guidelines for submission and other relevant documents of the Call for Proposals can be found online here. Proponents have until 8 January 2014 to submit their proposals.
NorCaP was established in October 2013 to selectively procure greenhouse gas emission reduction credits from projects eligible under the Kyoto Protocol. NorCaP is wholly funded by the Norwegian Government. The principal objective of NorCaP is to prevent reversal of emission reduction activities in existing projects whose survival depend on a higher carbon price than achievable under current market conditions.
“Having discussed with many market participants, we think this Call for Proposals comes at an optimal time, as many projects are struggling to continue their operations with no or very low revenues from carbon sales. We hope that as many vulnerable projects as possible will be able to submit their proposals,” added Vice President Ash Sharma from NEFCO, who oversees the facility.