SLTEC

ACEN and Rockefeller Foundation Pilot Could Avoid up to 19 Million Tons of CO2 via Carbon Financing

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среда, апреля 17, 2024
Yee, Project, MAS, Climate change, Coal, CFPP, CCCI, Carbon dioxide, Climate, Rockefeller Foundation, Partnership, PDD, Electricity, Conference, Carbon, Wind, Retirement, RMI, COP28, Verra, CO2, Money, ACEN, SLTEC, Renewable energy

SINGAPORE, April 17, 2024 /PRNewswire/ -- ACEN Corporation and The Rockefeller Foundation announced today that the first Coal to Clean Credit Initiative (CCCI) pilot project under consideration in the Philippines could avoid up to 19 million tons of carbon dioxide (CO2) emissions. An RMI-led assessment supported by The Rockefeller Foundation explored the climate impact of leveraging carbon finance to close South Luzon Thermal Energy Corporation (SLTEC) coal plant in 2030 – ten years ahead of its scheduled retirement – and replacing it with clean power and battery storage, while supporting the livelihoods of workers affected by the plant's early transition.

Key Points: 
  • Announced during Financing Asia's Transition Conference, the analysis applied CCCI's draft methodology, currently under review by Verra, to assess SLTEC's eligibility for carbon financing.
  • Eric Francia, President & CEO of ACEN Corporation, said: "We are delighted to accomplish this important milestone of confirming the project's eligibility under CCCI's draft methodology.
  • This paves the way to fully develop the just transition plan and engage with potential buyers of carbon credits.
  • By 2025, ACEN hopes to finalize buyer discussions and reach a financial close for this world's first coal-to-clean carbon credit transaction.

COP28: The Rockefeller Foundation, ACEN Corporation, Monetary Authority of Singapore Partner to Explore Phasing Out Coal Plant in Philippines

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понедельник, декабря 4, 2023
Carbon, Coal, Economics, Assistant, Monetary Authority of Singapore, Employment, Organization, Foundation (nonprofit), Plant, PLN, CCCI, CFPP, COP28, Rockefeller Foundation, Entrepreneurship, Climate, Money, Climate Policy Initiative, ACEN, SLTEC, MAS, CPI, Verra, Retirement, Growth, Paris Agreement, Excellency, Power, Renewable energy, Security (finance), EMD Model 40

CCCI and ACEN are working with the Monetary Authority of Singapore (MAS) to advance the potential project.

Key Points: 
  • CCCI and ACEN are working with the Monetary Authority of Singapore (MAS) to advance the potential project.
  • "To retire coal plants, avoid those emissions, and create jobs, we need to create the right incentives for asset owners and communities and mobilize additional finance.
  • This innovative CCCI agreement will pilot a coal-to-clean credit methodology in the Philippines, one critical step toward breaking that overreliance and building a better future."
  • The project, the South Luzon Thermal Energy Corporation (SLTEC) coal plant, would become the world's first coal-fired power plant to leverage carbon credits to enable its early decommissioning.

COP28: The Rockefeller Foundation, ACEN Corporation, Monetary Authority of Singapore Partner to Explore Phasing Out Coal Plant in Philippines

Retrieved on: 
понедельник, декабря 4, 2023
Carbon, Coal, Economics, Assistant, Monetary Authority of Singapore, Employment, Organization, Foundation (nonprofit), Plant, PLN, CCCI, CFPP, COP28, Rockefeller Foundation, Entrepreneurship, Climate, Money, Climate Policy Initiative, ACEN, SLTEC, MAS, CPI, Verra, Retirement, Growth, Paris Agreement, Excellency, Power, Renewable energy, Security (finance), EMD Model 40

CCCI and ACEN are working with the Monetary Authority of Singapore (MAS) to advance the potential project.

Key Points: 
  • CCCI and ACEN are working with the Monetary Authority of Singapore (MAS) to advance the potential project.
  • "To retire coal plants, avoid those emissions, and create jobs, we need to create the right incentives for asset owners and communities and mobilize additional finance.
  • This innovative CCCI agreement will pilot a coal-to-clean credit methodology in the Philippines, one critical step toward breaking that overreliance and building a better future."
  • The project, the South Luzon Thermal Energy Corporation (SLTEC) coal plant, would become the world's first coal-fired power plant to leverage carbon credits to enable its early decommissioning.

ACEN completes the world's first Energy Transition Mechanism (ETM) transaction for the 246-MW SLTEC coal plant

Retrieved on: 
понедельник, ноября 7, 2022
Zero, Organization, Insular Life, Atmosphere, GSIS, Risk, ESG, Rizal Commercial Banking Corporation, Disclosure, Asian Development Bank, Coal, PSE, ETM, Retirement, Bank, Carbon, ACEN, ADB, Bank of the Philippine Islands, Investment, Energy transition, Social responsibility, Multimedia, Technology, CEO, Renewable energy, Financial services, SLTEC

The landmark transaction will enable the early retirement of the 246-MW coal plant in Batangas, Philippines.

Key Points: 
  • The landmark transaction will enable the early retirement of the 246-MW coal plant in Batangas, Philippines.
  • Ahmed Saeed, ADB vice president said, "We commend the Ayala Group and ACEN for the successful closing of this pioneering ETM transaction.
  • Eric Francia, ACEN president and CEO said, "ACEN continues to blaze the trail for energy transition in the Asia Pacific.
  • As the company has successfully divested its coal asset, ACEN commits to a just energy transition.