Follow on Google News News By Tag * Emissions Reductions * Carbon Credits * Certified Emission Reduction Credits * Jpmorgan Chase * Ecosecurities * eu * More Tags... Industry News News By Place Country(s) Industry News
Follow on Google News | Financial Soultions: JPMorgan Chase still making inroads into carbon market.New York based investment bank wins tender for two Mexican emission-reduction projects.
The bank will expand plans to generate so-called Certified Emission Reduction credits from two geothermal power facilities presently held by the state owned power company Comision Federal de Electricidad, a Mexican Finance Ministry spokesperson announced recently. JPMorgan Chase is said to have offered 95% of the market spot price in its tender, with the 2nd place bidder, CO2 Solutions coming in with an offer of 93.11% and BNP Paribastrailing in 3rd place with 89%, Financial Soultions understands. The bank is looking at expanding its carbon finance business as U.S. legislators deliberate climate protection laws in the Senate that would introduce compulsory emissions trading in 2012. Proposed U.S. laws include prospective demand for international offsets. In another recent purchase deal, a JPMorgan arm announced that shareholders controlling more than 80% of EcoSecurities Group Plc have accepted the banks takeover bid, which has become unconditional. EcoSecurities was also took part in the biding for the Mexican tender, Financial Soultions can confirm. JPMorgan’s Carbon Acquisition Co. is likely to complete the acquisition in early December, it announced recently in a released statement. EcoSecurities will remain independent continuing with its brand. The Ireland based company has the most projects generating CERs in the so-called CDM, the world’s second-largest greenhouse-gas market after the European Union program. # # # Financial Soultions is a Boutique Investment Advisory Firm with very selective Corporate, Private and Institutional Clientèle who enjoy above average returns and service. End
|
|