Press releases
Paris, December 02nd 2008
Orbeo partner of the first landfill gas project in Central Africa (Cameroon)
Orbeo signed an Emission Reduction Purchase Agreement in partnership with Hysacam (Hygiène et Salubrité du Cameroun), a company specialized in waste management. Related to a landfill gas project in Cameroon, this agreement should avoid about 400 000 tons of CO2 emissions up to 2012 and generate 200 jobs.
This landfill is made up of household waste which emits methane, a greenhouse gas that has a very negative effect in trapping heat in the atmosphere, 21 times more than carbon dioxide (CO2). The recovery and combustion of this methane will therefore have a positive impact on the climate change. This landfill gas recovery project will be implemented on an area of about 47 ha near to the city of Yaounde and construction should begin early January 2009.
Under this agreement, orbeo will assist Hysacam in the registration process with the United Nations Framework Convention on Climate Change (project design document writing, feasibility study completion, assistance to monitoring process, project finance). The project should be registered as a Clean Development Mechanism project in July 2009.
Philippe Rosier, President of orbeo comments: : «This is a new step in the development of our greenhouse gas emissions reduction projects portfolio; orbeo demonstrates its ability to innovate and its desire to play a leading role in Africa in the implementation of projects related to the Kyoto Protocol ».
About orbeo Operating globally and headquartered in Paris, orbeo is a pioneering joint-venture combining industrial and financial expertise in the realm of carbon. From project to market, orbeo covers the whole carbon value chain and is among the leading buyers and sellers of CO2 products. Orbeo originates carbon credits, providing project development to all types of providers (project owners and developers), and offers trading services, carbon portfolio optimization and structuring of customized transactions to all types of customers (industrials, governments, voluntary buyers, investors). Orbeo was recently voted “House of the Year – Emissions Europe” in the 2008 Energy Risk Awards 2008, organized by the publication Energy Risk. Orbeo is regulated by French regulators CECEI and AMF.