LONDON FIRM EYEING GROWTH OPPORTUNITIES IN SA
CAMCO INTERNATIONAL, a Londonlisted group, has quietly set up office in South Africa to seek out opportunities in projects aimed at reducing greenhouse gas emissions.
Camco International, which was listed on the London Stock Exchange’s Alternative Investment Market in 2005, provides services to project developers seeking to develop and register emission reduction projects.
Market talk suggests that Camco International is in talks with Eskom, one of SA’s biggest polluters, with the aim of assisting it to identify and develop greenhouse gas emission reduction projects.
Camco International’s CE Tristan Fischer was not prepared to comment on the possibility of assisting Eskom with developing carbon reduction projects.
Speaking to Finweek from his London office, Fischer, said: “We are extremely hopeful that our South African operation will be bringing on board a number of clean development mechanism (CDM) projects.”
South Africa is one of the largest greenhouse gas emitters, and foreign buyers of carbon credits are likely to be interested in doing business with gas emitters. “Through our network of carbon buyers, there has been significant interest in carbon credits coming from SA,” says Fischer.
Carbon buyers from Canada, Denmark, the UK and Japan are likely to be interested in buying carbon credits in SA.
Camco International, which opened its office in South Africa in October 2006, anticipates that the CDM industry in South Africa could produce between 500m and 600m tons of carbon credits.
Hopefully Camco International will be able to secure CDM projects in the South African market, which has been having teething trouble.