Cerro Dominador reaches an agreement to commercialize carbon credits

17 June, 2020

Cerro Dominador reaches an agreement to commercialize carbon credits

The first solar power concentration plant in Latin America will be able to commercialize carbon credits as soon as its operations begin, thanks to an agreement signed with the South Pole company.

June 17, 2020.- Cerro Dominador has successfully completed its registration in the VCS (Verified Carbon Standard) program and will commercialize carbon credits when it begins operations in late 2020. This process was developed by an agreement with South Pole according to the rigorous VERRA standards and certification.

Carbon credits are an alternative for companies that cannot reduce their greenhouse gas emissions, who are also interested in reducing or neutralizing their carbon footprint. With this action, the company continues to contribute to the fulfillment of the Sustainable Development Goals (SDGs) established by the United Nations.

“With this new milestone, we continue to contribute to sustainable development and provide the industrial and energy sector with value options in the face of climate change, which is part of the purpose of Cerro Dominador. The option of offsetting emissions through certified carbon credits is a tremendous alternative to the country,” says Fernando González, CEO of Cerro Dominador.

Carbon standards are an internationally recognized mechanism for identifying the carbon emissions of organizations that in some part of their value chain generate greenhouse gases. These standards certify the reduction of emissions from mitigation activities that are carried out in different productive sectors. Investing in carbon offsetting helps issuing organizations take immediate action on the pollution they generate.

Cerro Dominador carbon credits will be issued according to rigorous internationally recognized standards and will be certified by VERRA, a company with extensive experience in this area.

“South Pole is proud to have accompanied Cerro Dominador throughout this rigorous registration process for the first large-scale solar project in Chile under the Voluntary Carbon Standard (VERRA). Our developments have spanned over 700 projects worldwide and extends to every stage of the carbon credit life cycle. We are very pleased to apply this experience in our collaboration with Cerro Dominador and we will continue to do so for future projects that contribute to reducing emissions in the country” said Christian Ehrat, Director of Renewable Energies and Sustainable Technologies for America.

About Cerro Dominador

Cerro Dominador is the company that owns the solar complex of the same name made up of the first Solar Power Concentration Energy (CSP) plant built in Latin America. With a total of 210 MW of a combination of technology-CSP-and photovoltaic, the project will provide flexible and base renewable energy to the Chilean Electric System.

About South Pole

South Pole is a recognized international provider of sustainability solutions and services, made up of a group of more than 300 experts in more than 18 offices around the world. For more than a decade, South Pole has worked with a wide range of public, private and civil sector organizations to accelerate the transition to a climate smart society. South Pole has mobilized climate finance for the development of more than 700 projects to reduce emissions, renewable energy, energy efficiency and sustainable land use.