Isra-Mart srl : Camco International signs its largest carbon development agreement to date

www.isra-mart.com

Isra-Mart srl news:

Carbon emissions consultants Camco International Ltd (LON:CAO) said it signed its largest ever carbon development agreement, with Huaneng Renewables Corporation Ltd.

The agreement covers 20 of Huaneng Renewables' wind power installations across China with a combined size of over 1,000 MegaWatt of capacity.

The projects are located in five provinces in China; Inner Mongolia Autonomous Region, Guizhou Province, Shandong Province, Yunnan Province and Liaoning Province and are designed to generate over 7.5 million tonnes of emission reduction credits up to 2015.

In February, the group reported it swung to a profit in the full-year and said it is in a strong position across all its markets after its 2010 turnaround and best performing year to date. Camco made a pretax profit of €9.6 million in the year ended December 31 2010 against a loss of €10.7 million a year earlier.

Revenues rose to €30.0 million from €27.8 million.

The period under review also saw Camco more than doubling the amount of carbon credits issued to 8.1 million tonnes from 3.3 million tonnes a year earlier.

Chief executive Scott McGregor said in February: "The company is in a strong position across all our markets after its 2010 turnaround and best performing year. Given the performance and focus of the business, we are in a prime position to seize the current opportunities, grow our projects business, deliver the current portfolio and build value for our customers and shareholders."

Camco develops of emission reductions and clean energy projects with operations in the US, the UK, China, Africa, Russia and SEA.