Japan’s Chubu Electric sets CO2 credit record

More CO2 emissions credits will be used by Chubu Electric for an LNG thermoelectric power generation project being built in Putian City, Fujian Province by the CNOOC Fujian Gas Power Co., Ltd.

Chubu Electric has concluded an agreement to repurchase CO2 emissions credits from Mitsubishi Corporation after it has committed to purchase approximately 9.24 million tons of CO2 emissions credits from a Chinese project. The company described the latter purchase, which will be made over the 2009–2012 period, as "the largest carbon credit purchase agreement that Chubu Electric has ever entered."

An official statement from Chubu Electric Power Company, Inc., stated, "Our intent is to continue the fight against global warming by working with CO2 reduction projects and taking other measures."