Noble Carbon Credits and GFL complete a number of CER deals

Noble Carbon Credit, a member of global supply chain manager Noble Group, and Gujarat Fluorochemicals of India (GFL), which operates the largest manufacturing plant in India, have finalized a series of long term Certified Emission Reduction (CER) purchases and sale contracts. The transactions cover a highly innovative deal structure, involving a mix of guaranteed deliveries and off-takes commitments with fixed as well as flexible pricing, and advance and balance payments against delivery, with strong security measures built in. GFL, by participating in Clean Development Mechanism Project (CDM) in Gujarat, India, the mechanism allowing developing countries to receive CER set by the Kyoto Protocol, received its first CER certification in early April 2006. Noble Carbon Credits, being the largest consumer of GFL, will purchase the major portion of GFL's anticipated CER production from 2006 to 2012, and use GFL's CERs to serve its numerous international customers, mainly those based in the power utility, industrial and financial sectors.