Mediterranean Action Plan

Financing Support through CDM
272
ENERGY AND SUSTAINABLE DEVELOPMENT IN THE MEDITERRANEAN
In January 2007 the CDM projects portfolio included more than 40 projects of which 29 have
been already accepted and/or approved by the Egyptian DNA expected to produce more
than 6 million CERs annually. The approved and/or accepted 29 projects include 19 projects
in the energy sector out of them 4 are in wind electricity generation contributing to produce
about 0.82 M CERs (Certified Emission Reductions). Energy projects also include 3
hydropower projects and the rest are mainly fuel switching projects. Note that accepted
projects are those acquired the letter of no objection only from the Egyptian DNA to proceed
with projects CDM qualification process while approved projects have acquired letter of
approval of the DNA to present the project for registration (either registered or not). It should
be noted that CDM revenues from selling CERs in RE and wind projects contributed to a
limited extent in narrowing the gap between wind generated kWh cost and the conventionally
generated kWh unlike, e.g. N2O abatement projects. In the general practice in Egypt, CERs
revenues cannot solely close the gap between the cost of wind-generated kWh and that of
conventional.