The European Investment Bank today published a report detailing the sales during September on EU carbon allowances under the NER 300 initiative to raise funding for carbon capture and storage demonstration projects and innovative renewable energy technologies.
During September 2012, EIB sold a total of 18,850,000 EU allowances for a total value of EUR 154,132,040 (before deduction of expenses, including fees required by the market, and EIB fees).
EIB used the following sales channels during the reporting month to distribute the EU allowances: OTC exchange-cleared (2,550,000), direct screen trades (6,300,000) and auctions (10,000,000).
All transactions so far have been executed on a forward basis with delivery of allowances and receipt of revenues in December 2013.
This brings the total volume of EU allowances sold so far under the NER 300 initiative to 200,000,000 with a total value of EUR 1,609,125,460, completing the sales of the first tranche within the 10 month period as envisaged. Consequently no further monthly reports will be published for the time being, while a summary report on the amount of funds available for award to successful bidders in the first call is in preparation.
The monetisation of the second tranche of 100 million EU allowances will be realised in consultation with the European Commission. Further details of timing and sales instruments will be communicated in due course and with a reasonable amount of notice before the beginning of the second tranche sales.
The complete September sales report can be found on the EIB’s NER 300 website.