Aera signs a record contract (9 M€) with Zürich based carbon aggregator MyClimate10 September 2021
Aera is pleased to announce the signature of a forward carbon sale with a record transaction amount of 9 M EUR. The deal was signed in Zürich earlier this morning. Transaction features the delivery of carbon credits over the next 5 years to be generated by an efficient cooking stoves program in Burundi. MyClimate will provide down payments to scale up the project and support the roll-out. Prefunding is crucial for bottom of pyramid technologies especially when it comes to refugees returning their home countries as targeted by the program. Social impact, co-benefits and support for communities are also strong components designed by the project proponent.
Aera is building a dozen of similar carbon assets across Africa to face an increasing demand. To date, the company holds carbon rights on 50+ projects in 20+ African countries. The portfolio encompasses renewable energy, energy efficiency and biodiversity projects mainly located in Least Developed Countries. Aera has ownership on 30 MT of CO2 equivalent which is valued today at 200 M EUR+