Hodgson, who is also convenor of the Ministerial Group on Climate Change, says Budget 2004 will make the additional credits available through a tender process later this year.
"The first offer of four million carbon credits, last year, attracted an excellent response and has resulted in awards of credits to 15 emission-reducing projects, including wind farms, hydroelectricity, bio-energy and landfill gas schemes, and cogeneration plants.
"Last year's call for proposals attracted 46 bids seeking a total of more than 15 million credits. This suggests New Zealand businesses can see the opportunity to bring forward innovative, cleaner energy developments with the help of this programme."
Hodgson announced the second Projects to Reduce Emissions tender round yesterday at the official opening of TrustPower's Tararua Windfarm extension in the Manawatu – a development assisted by carbon credits. The tender is open to investment from any company here or overseas, provided that they reduce emissions in New Zealand. These can be Joint Implementation projects under the provisions of the Kyoto Protocol.
"This program offers tangible rewards for developments that take us further towards a sustainable energy future and shows how we can take advantage of the opportunities created by the new climate-conscious global energy environment," said Hodgson, who is known for liking the cleaner side of energy and leaving the “dirtier” oil and gas sector to his deputy, Associate Energy Minister Harry Duynhoven.
