SINGAPORE: Federal International’s Banyan Utilities seeking UN carbon credits accreditation

 (EnergyAsia, February 20, Wednesday) —Singapore-listed Federal International (2000) Ltd said its 60%-owned subsidiary, Banyan Utilities Pte Ltd, is seeking accreditation under the Clean Development Mechanism of United Nations Framework Convention on Climate Change (CDM-UNFCCC).
As part of the accreditation process, Banyan Utilities is organising a stakeholder and public consultation meeting at the Fullerton Hotel on February 22.
  Banyan Utilities, established in May 2007 as a joint venture between Federal International and Utility Development Corporation Pte Ltd to provide utility services, is the first company in Singapore’s power industry to seek carbon credits.
Last year, Banyan Utilities signed a power and steam purchase agreement with Natural Fuel Pte Ltd to build, operate and transfer a 5MW co-generation facility on Jurong Island.
The facility, which supplies power to Natural Fuel’s biodiesel plant on the island, is designed to generate electricity using natural gas, and generate steam from waste heat recovery. Banyan Utilities’ management hopes to leverage on the facility’s greenhouse gas emission reduction capabilities, to apply for the carbon credits.
The stakeholder consultation meeting is a platform to allow the public and interested parties to understand and to express their concerns and feedback on the co-gen project’s sustainability issues.
Upon approval and accreditation, Banyan Utilities will be awarded carbon credits or Certified Emissions Reductions (CERs), which can be sold to industralised countries and other companies.
The facility will contribute towards meeting Singapore’s sustainable development objective by promoting clean energy technology, the transfer of greenhouse gas emission reduction technology, and employment opportunities for elderly people.