GreenStream and the State of Finland sign an agreement worth over half a million euro

GreenStream, a leading Northern European company in the carbon and renewable energy markets, has won a tender on managing the Kyoto mechanism purchase programme of the State of Finland in years 2010 and 2011. GreenStream’s primary task under the agreement signed with the Ministry of Employment and the Economy is to support responsible ministries in obtaining carbon credits from bilateral purchase agreements under the Kyoto project mechanisms JI and CDM. The State of Finland has emissions reductions purchase agreements with 10 bilateral JI or CDM projects and one bundle of four separate CDM projects.

Tomas Otterström, who leads GreenStream’s advisory services as well as development and management of climate investment vehicles, says: the agreement significantly expands GreenStream’s cooperation with the State of Finland. “Our carbon funds and the State of Finland have co-purchased carbon credits from South African projects. In addition we have arranged a couple of purchase agreements for Finland in China. We are very pleased with the confidence in us which the State of Finland shows by entrusting us with the management of its JI and CDM project portfolio.”

Counsellor Juhani Tirkkonen at the Finnish Ministry of Employment and the Economy says that GreenStream won the open tender with a clear margin to the other service providers. “All applicants had experience in project management of emissions reduction projects, but GreenStream’s experience is superior to the others. GreenStream’s personnell is altogether exceptionally strong in the Finnish environment. GreenStream’s expertise includes both profound CDM and JI project experience as well as expertise in financing and legal agreements”.

 

GreenStream Network Plc, Tomas Otterström, Deputy CEO, +358 40 584 7070

Finnish Ministry of Employment and the Economy, Juhani Tirkkonen, Counsellor, +358 50 365 3412