Fortum and TGC-1 agree joint implementation deal

Finnish utility Fortum has agreed to purchase 5 million tonnes of emission reduction units (ERUs) from Russian utility Territorial Generating Company 1 (TGC-1). The ERUs will come from Joint implementation (JI) projects conducted at TGC-1's production facilities during the Kyoto Period (2008-2012) of the European Emissions Trading Scheme.

The JI projects include reconstruction of hydro power plants, expansion and reconstruction of combined heat and power generation facilities as well as energy ef