Carbon Trade Exchange Extends Partnership with UNFCCC CDM Registry

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Carbon Trade Exchange UNFCCC Partnership
Carbon Trade Exchange strengthens its global carbon market presence with a renewed UNFCCC CDM Registry partnership.

Carbon Trade Exchange (CTX) has announced a two-year extension of its agreement with the UNFCCC CDM Registry. This partnership has significantly benefited global buyers, providing them access to wholesale-priced UNFCCC Certified Emissions Reductions (CERs) from various projects worldwide.

Global Reach and Significant Trading Volume

The extension of the agreement further strengthens CTX’s position in the carbon market. As of early December, CTX had listed over 2 million CER credits directly from the CDM Registry, valued at over $3.28 million. Additionally, the exchange had 1.12 million CTX UN CERs across its three National Registry accounts—UK, Dutch EU, and Australia—valued at over $1.66 million.

CTX is one of the few exchanges that can trade CDM CERs and CTX CERs electronically, making it a key player in the carbon market. The partnership allows buyers to access carbon credits from various nations and project types. Many of these credits are unique to the CDM program.

Also read: Nuada and Carbfix Partner to Offer Innovative Carbon Capture and Storage Solutions

Affordable Carbon Offsets

CTX offers credits starting at $0.60 per ton of CO2e, an affordable option for businesses seeking to offset their carbon emissions. These “Buy to Retire” credits help companies create a balanced portfolio of offsets, combining credits from different standards.

This flexibility allows companies to manage their carbon portfolios effectively while keeping prices reasonable.

Also read: German Opposition Parties Back Carbon Capture and Storage Proposal

Innovating in Global Climate Finance

Since 2010, the agreement also involves Global Environmental Markets (GEM), which handles CTX’s clearance and settlement through the Westpac Bank solution. CTX’s over-the-counter (OTC) trade division, Environmental Markets Services, enables the execution of trades for non-CTX members, expanding the exchange’s reach even further.

Wayne Sharpe, CEO and Founder of CTX, expressed pride in the company’s leadership in global climate finance. Sharpe, who won the EU Fintech Innovator of the Year Award in 2023, emphasized CTX’s commitment to providing businesses with innovative carbon solutions.

The extended partnership between CTX and the UNFCCC CDM Registry solidifies CTX’s role as a pioneer in the global carbon market.

By offering affordable, diverse, and accessible carbon credits, CTX continues to support businesses in their sustainability efforts while driving the transition to a low-carbon economy.

Nofar Energy Secures Landmark Fixed-Price Agreement for Stendal BESS Project in Germany

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Nofar Energy Stendal BESS
Nofar Energy’s groundbreaking Stendal BESS project in Germany secures Europe’s first fixed-price energy storage agreement. Image Credit : Nofar Energy

Nofar Energy, a leader in renewable energy and battery energy storage systems (BESS), has secured a pioneering 7-year Fixed-Price Flexibility Purchase Agreement (FPA) for its Stendal Battery Energy Storage System (BESS) project in Germany. The 104.5 MW / 209 MWh project marks the first-ever physical fixed-price FPA for a BESS project in Europe. As a result, this agreement eliminates the project’s market risks and guarantees steady, long-term cash flow.

Under this agreement, Nofar Energy will receive €85 to €95 million from 2027 to 2033. There is also an option to begin earlier on a merchant basis before January 2027. This contract structure secures large-scale BESS projects in markets, where storage fixed-price agreements are becoming more common.

Also read: Akaysha Energy Secures Record A$650 Million BESS Financing 

Strengthening Position in Global Energy Storage Market

By landing this deal, Nofar Energy improves its standing in the quickly expanding energy storage market. This transaction represents a shift in the market structures for storage and emphasizes the growing significance of battery storage solutions. 

Nadav Tenne, CEO of Nofar Energy, said, “We are thrilled to announce this unique fixed-price tolling agreement for the Stendal project, our first storage project in Germany. This agreement not only provides revenue certainty for Nofar Energy but also strengthens our partnership with one of the world’s largest and most respected energy corporations.

He added, “This innovative deal positions Nofar at the forefront of the global energy storage market and validates our commercial and techno-economic capabilities. The stability provided by this agreement will enable us to finance the project on favorable terms and improve our return on equity. We thank our partner for this opportunity and look forward to future collaborations in Germany and beyond.”

Also read: TotalEnergies Strengthens Renewable Energy Presence with VSB Acquisition and Texas Solar Portfolio Sale

Additionally, Nofar Energy secured £152 million for the 300 MW / 624 MWh Cellarhead BESS project in the UK. Nofar’s UK subsidiary, Atlantic Green, secured funding for the project from Goldman Sachs, Santander, Bank Hapoalim, and Bank Leumi.